2.1 2.2 2.3 2.4 2.4.1 2.4.2 2.4.3 2.4.4 2.5 Sector Comparison The Telecom Sector 1 2 Bot Market Research The telecom sector In the telecom sector we examined 275,739 login credentials associated with three telecom companies in each of the 20 countries. Overall, the numbers examined in this sector were significantly high compared to those in the banking sector. In this sector, France received the highest number of login credentials (44,255) offered for sale online for its dominant telecom companies. Austria and Italy were next with 38,000-39,000 offers. Albania received the lowest number of offers in 2021 with only 214 offers. France received the highest number of login credentials offers in the Telecom sector; this corresponds to the highest value the country received in total offers observed in 2021. We noticed that Italy, which appeared in the top four in the general country analysis, also demonstrated high values in the telecom sector. Spain and Germany also received high values in total and received relatively low numbers in this sector. Austria and Portugal received high values in the telecom sector but demonstrated relatively low numbers of login credentials overall. Telecom login credentials sold in bot markets, divided by country France 16% Austria 14% Italy 14% Portugal 10% Spain 9% Hungary 5% Romania 5% Poland 5% Germany 5% Greece 4% Belgium 3% Netherlands 2% Czech 2% Bulgaria 2% Slovakia 1% Croatia 1% Switzerland 1% *The graphs show only countries that receive 1% and above out of the total login credentials investigated 17 The Rise of Dark Web Botnet Marketplaces