Correction: there was a Facebook-type social networking site for hackers and those looking to commit acts of digital malice. Two teens in the UK started a site called Gh0stMarket, which over 8,000 people used to anonymously swap hacked databases of information, including credit card numbers.

The two site founders were arrested at school after police caught them trying to charge $1600 to stolen credit cards. Afterwards, estimates indicate that the site was responsible for over $26 million in financial damages:

After finding details of 100,000 stolen credit cards on Webber's laptop, the police uncovered the existence of the website, as well as registered losses on 65,000 bank accounts. Police estimate that the site cost credit card users as much as £16.2 million ($26.37 million). Funds were processed at an offshore bank account in Costa Rica.

But even better, after the two boys posted bail, they tried to evade prosecution by fleeing to Spain, only to attempt a return to the UK, where they were subsequently caught. Oof. [Guardian via ZDnet]