Inside the Russian-Speaking Underground: The Frontline of Global Cybercrime
- Inno-Thought Team
- Apr 15, 2025
- 3 min read
Trend Micro's new research paper highlights cybercriminal underground's expanding reach
Trend Micro Incorporated recently launched a new research paper, delivering a unique and comprehensive look into the Russian-speaking cyber underground, an ecosystem that has shaped global cybercrime over the past decade.
"We dive into one of the most sophisticated and impactful ecosystems within the global cybercrime landscape. Our research looks at tools and techniques, specialized forums, popular services, plus a deeply ingrained culture of secrecy and collaboration."
Set against the backdrop of a rapidly evolving cyber threat landscape, the research paper explores major trends reshaping the underground economy: the long-term impacts of the pandemic, the fallout of mass breaches and double extortion ransomware, the explosion of accessible AI and Web3 technologies, and the widespread exposure of biometric data. As both cyber criminals and defenders grow more sophisticated, new tools, tactics, and business models are driving unprecedented levels of specialization within underground communities.
The Russian-speaking underground stands apart as a uniquely organized, highly collaborative, and deeply cultural network of actors operating with their own internal codes of ethics, vetting processes, and reputation systems.
"This isn't just a marketplace, it's a structured society of cybercriminals where status, trust, and technical excellence determine survival and success," said Vladimir Kropotov, co-author of the research and Principal Threat Researcher at Trend Micro.
"The Russian-speaking underground has cultivated a distinctive culture that blends elite technical expertise with strict codes of conduct, reputation-based trust systems, and collaboration that rivals legitimate enterprises," said Fyodor Yarochkin, co-author and Principal Threat Researchers at Trend Micro. "This isn't just a collection of criminals, it's a resilient, interconnected community that has adapted to global pressure and continues to shape the future of cybercrime."
The research dives deep into key criminal operations gaining momentum in this space, including ransomware-as-a-service schemes, phishing campaigns, account brute forcing, and monetizing stolen Web3 assets. Intelligence gathering services, privacy exploitation, and the merging of cyber and physical domains are also examined in detail.
"Geopolitical shifts have rapidly transformed the cyber underground," said Vladimir. "Political conflicts, rising hacktivism, and changing alliances have eroded trust and reshaped collaboration—spurring new ties with other groups, including Chinese-speaking actors. Spill-over into the EU is growing."
As geopolitical tensions rise and cybercriminals embrace more advanced technologies like AI and Web3, understanding the inner workings of the Russian-speaking underground has never been more urgent.
Trend's Russian-speaking Cyber Underground paper – the 50th in its Cybercrime Underground research series spanning nearly 15 years – provides unmatched depth and historical context for threat intelligence communities, business leaders, law enforcement, and cybersecurity professionals tasked with protecting critical infrastructure, enterprise assets, and national security.
For the full report, please visit:
Trend Micro's research, ”The Russian-Speaking Underground,” marks the 50th installment and the culmination of its ongoing series, which started in 2012, analyzing the Russian-speaking cybercriminal underground. Over the course of this series, the research team has tracked the underground’s evolution, documenting its innovation, adaptability, and growing influence on the global cybercrime ecosystem. This milestone shows the depth and breadth of the investigations, providing a comprehensive understanding of how this ecosystem has shaped and continues to shape cyberthreats.
The report is divided into two key sections: the main body and an appendix. The main body presents a high-level overview of the Russian-speaking cybercriminal underground, highlighting its evolution, impact, and emerging trends. Meanwhile, the appendix provides a deeper look into the specific tools, schemes, and operational tactics employed by cybercriminals, offering a more granular examination of their methods.
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