While nation-state actors grab headlines for their sophistication, eCrime actors have been building a wildly profitable industry distributing trojans and ransomware. These threat actors not only develop new and more sophisticated malware but their businesses grow in sophistication and specialization. I'll discuss how threat intelligence on how these actors have changed their tools and tactics shows increasing specialization and trade and how these markets develop. Given the similarities to the development of other black markets we can expect these trends to continue. Examples include the distribution of TrickBot and the success of the Gandcrab ransomware, both of which demonstrate tremendous growth in the black market econom