Data is becoming the most coveted commodity in the ever-growing digital underworld, and it is being traded at an alarming rate. In a recent investigation conducted by Proton, it has been revealed that there are currently more than 300 million stolen credentials circulating across dark web marketplaces, demonstrating how widespread cybercrime is.
According to Proton's Data Breach Observatory, which continuously monitors illicit online forums for evidence of data compromise, there is a growing global cybersecurity crisis that is being revealed. In the year 2025, the Observatory has recorded 794 confirmed breach incidents. When aggregating these data, the number increases to 1,571, which amounts to millions of records exposed to the public in the coming years.
One of the troubling aspects of the research is the pattern of targeting small and medium-sized businesses: cybercriminals have increasingly targeted these companies. Over half of all breaches were recorded at companies with between 10 and 249 employees, while 23% of breaches occurred in micro businesses with fewer than 10 employees.
This report highlights a growing truth about the digital age: while businesses are racing to innovate and expand online, threat actors are evolving just as quickly. As a result, the vast internet architecture has become a vibrant market for stolen identities, corporate secrets, and business secrets.
Security breaches are still largely hidden from the public eye for many organisations due to fear of reputational damage, financial losses, or regulatory scrutiny, so they remain reluctant to reveal them. This leaves the true extent of cybercrime largely hidden from the public eye.
Using Proton's latest initiative, the company hopes to break down the silence surrounding this threat by tracking it to its source: the underground marketplaces that openly sell stolen credentials and personal data.
In doing so, Proton is continuing its quest to foster a safer, more private internet, which is a vital component of the company's mission.
As an extension of the Proton VPN Observatory, which monitors global instances of government-imposed internet restrictions and VPN censorship in the form of government-imposed restrictions, the Data Breach Observatory extends that vigilance to track instances of cybercrime in the form of data breaches.
Its creation, which is made in collaboration with Constella Intelligence, is an observatory that constantly scans the dark web for new breaches, analysing the types of data compromised, including passwords and personal identifiers, as well as financial records, and the number of accounts affected.
Through real-time monitoring, Proton can alert victims as soon as a breach occurs, sometimes even before the breached organisation realises it is happening.
The Proton platform provides transparent, publicly accessible insights into these security breaches, which are aimed at both educating users about the magnitude of the threat and discouraging organisations from concealing their security shortcomings.
There is a policy of responsible disclosure at the heart of this initiative, which ensures that affected entities are informed in advance of any public announcement relating to the incident.
This is an era that has been defined by data theft and corporate secrecy since the dawn of the digital age. Proton's proactive approach serves as a countermeasure, turning dark web intelligence into actionable preventative measures.
With this initiative, the company not only reveals the hidden mechanics of cybercrime but also strengthens its reputation as a pioneer in digital transparency and empowerment for users, allowing businesses and individuals alike a better understanding of the shadowy forces that shape today's cybersecurity landscape, as well as the risks associated with it.
In its latest research, Proton has provided a sobering assessment of the escalating cost of cybercrime to smaller businesses.
There have been an estimated four out of five small businesses in recent months that have been affected by data breaches, and these attacks have often resulted in losses exceeding one million dollars.
As part of the growing crisis surrounding data breaches, a Data Breach Observatory was established to identify breaches that often remain hidden until a significant amount of damage has been sustained.
Proton constantly scans dark web marketplaces where stolen credentials are traded to deliver early warnings about potential breaches so that organisations can take steps to protect their data before attackers have an opportunity to exploit it further.
Through the course of these investigations, a wide range of personal and financial details were uncovered, including names, dates of birth, email addresses, passwords, and physical contact information of those individuals.
Almost all of these breaches have involved social security numbers, bank credentials, and IBAN details being exposed, which together represent an alarming combination that creates an extremely high likelihood of identity theft and financial fraud.
It has been recorded by the observatory that several high-profile incidents will occur in 2025, such as the Qantas Airways breach in October that exposed more than 11.8 million customer records; Alleianz Life Germany in September, with more than one million compromised accounts; and the U.S. tech firm Tracelo that was breached by 1.4 million records earlier this year, while breaches at Free Telecom, a French company, and SkilloVilla, a Indian company, revealed 19 million records and 33 million records respectively, emphasizing the threat to be very global in nature.
Security experts have always stressed the necessity of multi-factor authentication, as well as strong password management, as essential defences against credential-based attacks. Consequently, Proton reiterates this advice by advising businesses to regularly monitor their credentials for leaks and to reset passwords as soon as suspicious activity is detected.
The company enables businesses to verify whether or not their data has been compromised through its public access observatory platform, which is a critical step toward minimising the damage done to a business before cybercriminals can weaponise the data stolen. This is done through the company's public observatory platform that is widely accessible.
A stronger global security awareness and proactive cybersecurity practices are essential, and Proton's Data Breach Observatory confirms this need.
Aside from the observatory's use as a crucial alert system, it is important to note that experts also emphasise that prevention is the best form of protection when it comes to securing information online.
The Observatory stresses the importance of adopting layered security strategies, including the use of Virtual Private Networks (VPNs) that safeguard online communications and reduce the risk of interception, even in situations where users' data is compromised.
By using its own Proton VPN, based on end-to-end encryption and the company's signature Secure Core architecture, traffic passes through multiple servers located in privacy-friendly jurisdictions, effectively masking users' IP addresses and shielding their digital identities from cybercriminals. The company is effectively protecting their digital identity from prying eyes.
As a result of the robust infrastructure, the observatory continues to monitor across the dark web, and personal information remains encrypted and protected from the cybercriminal networks it monitors.
Besides technical solutions, Proton and cybersecurity experts alike emphasise the importance of a set of foundational best practices for individuals and organisations who want to strengthen their defences.
This is the best way to protect online accounts is to enable multi-factor authentication (MFA), widely recognised as the most effective method of preventing the theft of credentials, and to use a password manager whose function is to keep secure passwords for every online account.
As part of regular breach monitoring, Proton's observatory platform can be used to provide timely alerts whenever credentials are discovered in leaked databases.
In addition to fostering cybersecurity awareness among employees, companies must also create an incident response plan, enforce the principle of least privilege, and make sure that only systems that are essential to the role they are playing are accessible.
Taking advantage of more advanced strategies, including network segmentation, enterprise-grade identity and access management (IAM) tools, such as Privileged Access Management (PAM), may allow for further containment and protection of critical infrastructure.
These recommendations have been derived from the fact that credential theft is often based on exploited software vulnerabilities or weak configurations that are often exploited by hackers.
An unpatched flaw—such as an API endpoint that is exposed or an authentication mechanism that is not working properly—can result in brute-force attacks or session hijacking attacks.
Proton's exposure itself does not have any specific link to a vulnerability identifier; however, it indicates that there are still many systemic vulnerabilities which facilitate large-scale credential theft across many industries today.
As a result of the importance of patching timely manner and implementing strict configuration management, businesses can significantly reduce the chances of attackers gaining access to their network.
However, Proton’s research goes well beyond delivering a warning. It calls for action. The number of compromised accounts on dark web markets has increased by over 300 million, and we cannot afford to stay complacent.
This study underscores that protecting one's data is not merely about technology, but about maintaining a proactive approach to cyber hygiene and continuous vigilance.
A message Protoemphasises in this, when data is both a commodity and a target, it is clear: the key to digital safety lies in proactive defence, informed awareness, and collective responsibility.
In an age when the digital landscape is becoming increasingly complex, Proton’s findings serve as a powerful reminder that cybersecurity is not an investment that can be made once but is an ongoing commitment.
Organisations that take steps to ensure that their employees are informed and trained about cyber threats are better prepared to cope with the next wave of cyber threats.
Several security measures, including encrypting infrastructure, conducting regular security audits, and continuously performing vulnerability assessments, can be taken to significantly reduce exposure, while collaborations between cybersecurity researchers and private firms can strengthen collective defences.
Even though stolen data fuels a thriving underground economy in today's cyber world, the most effective defences against cybercrime remain vigilance and informed action.
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