DarkMarket site traded credit card and bank account details
Renukanth Subramaniam, 33, who ran the DarkMarket website that traded stolen financial details from an internet cafe in Wembley, north-west London is facing jail the FT reports.
He was remanded in custody by a judge at Blackfriars Crown Court in London after pleading guilty to conspiracy to defraud and five counts of furnishing false information.
Members could sell credit card and bank account details in the same way as legal goods are traded Ebay.
The US Federal Bureau of Investigation and the UK's Serious Organised Crime Agency estimate the information sold by the forum's 2,000 criminal members led to losses of tens of millions of pounds for banks and individuals.