A recent indictment has shed light on the criminal activities of Andrew Shenkosky, a Michigan man accused of wire fraud and aggravated identity theft. Shenkosky’s alleged scheme involved purchasing nearly 2500 stolen login credentials from Genesis Market, a notorious cybercrime marketplace that was shut down by the FBI in April 2023.
Genesis Market, operating since 2018, served as a hub for cyber-criminals to acquire stolen account information, enabling them to circumvent security measures. Despite the FBI’s efforts to dismantle the surface web domain of Genesis Market and arrest 120 individuals associated with the operation, the site continued to operate on the dark web before eventually going offline.
Shenkosky’s illicit activities reportedly involved using a fraudulently created Coinbase account to obtain access to Genesis Market. He then purchased over 2400 stolen credentials, which he used to carry out financial fraud, such as unauthorized withdrawals from victims’ bank accounts and transferring funds to his PayPal account. Additionally, Shenkosky attempted to sell stolen credentials on the Raid Forums cyber-criminal marketplace.
In January 2025, a grand jury indicted Shenkosky on multiple charges, including wire fraud, aggravated identity theft, possession of unauthorized access devices, and trafficking computer access information. He made his initial court appearance in Michigan on February 11, 2025, with an arraignment scheduled in Minnesota for February 25.
The case is being prosecuted by Assistant US Attorneys Benjamin Bejar and Robert Lewis and was investigated by the FBI Cybercrime Unit, as well as the FBI’s Minneapolis and Detroit Field Offices.
This incident serves as a stark reminder of the dangers posed by cybercrime and the importance of robust cybersecurity measures to protect sensitive information from falling into the wrong hands. The swift actions taken by law enforcement agencies to dismantle Genesis Market and apprehend those involved demonstrate a commitment to combating cyber threats and safeguarding individuals and organizations from potential harm.