A Sri Lankan immigrant who masterminded a one-stop tool shop for cyber-criminals has pleaded guilty to conspiracy to defraud and five counts of of furnishing false information in a London court.
Thirty-three year-old Renukanth Subramaniam, who joined the Dark Market web site in 2005, has asked that he be remanded in custody, no doubt for his own protection.
Dark Market was set up in 2005 and became a multi-million pound hub for criminals looking for tips and tools which would allow them to steal credit card information and identities from hapless Internet users. It is estimated that the site's 2,500 paying members were responsible for up to £40 million in fraudulent transactions.
After his initial arrest, police used Subramaniam's set-up as a sting operation to collar 60 active users on three continents, which is probably why the soon-to-be-convicted perp feels safer behind bars.