Brazil is the largest economy and one of the most influential countries in Latin America. Key economic sectors such as automotive manufacturing, petrochemicals, metallurgy, and agriculture are undergoing rapid digital transformation. While this process streamlines critical industry operations, it also creates new opportunities for cybercriminals to exploit vulnerabilities.
This study explores the shadow markets for cybercrime services targeting government institutions, private organizations, and Brazilian citizens.
Study objectives:
Analyze Brazil's digital landscape and identify key areas of growth and development.
Examine the current cyberthreat landscape, including digital literacy, regulatory frameworks, organizational and technical cybersecurity measures, and trends in cyberattacks.
Investigate major underground platforms hosting advertisements targeting Brazilian organizations and individuals, identify trends and patterns specific to the country.
Forecast future trends in Brazil's shadow market.
Provide recommendations for ensuring cybersecurity for the government and businesses.
We analyzed nine of the most popular underground forums and over 400 Telegram channels. The research covered large, multilingual shadow platforms across various topics during the period from January 1, 2024, to April 1, 2025.
The following categories were analyzed:
Database: leaks containing personal data, user credentials, or confidential corporate documents.
Access: credentials for unauthorized access to devices or services in a company's infrastructure.
Vulnerability: vulnerabilities and exploits.
Carding: information related to bank cards.
Ransomware: posts by hacker groups about successful ransomware attacks.
DDoS: posts by hacker groups about successful DDoS attacks.
- Deface: announcements about successful attacks involving changes to website homepages.


























