Trend Micro researchers’ in-depth explorations of the cybercriminal underworld— from Germany1, Brazil2, Japan3, North America4, and China5 to Russia6—have shown how financial gain motivates the way malware, crimeware, personally identifiable information (PII), and stolen commodities change hands. While their marketplaces are profit-driven and focused on flaunting their wares, we observed that the Middle Eastern and North African (MENA) underground was somewhat different with its ironic mix of ideology and felony.