Skip to content
Real Cryptocurrency Hub

Real Cryptocurrency Hub

Crypto Comeback Pro is an auto trading platform that allows you to invest in the crypto market and start making money right away. Sign Up HERE

  • Home
  • Start Trading
  • English
    • English
    • Español
    • Italiano
    • Polski
    • Svenska
    • Deutsch
    • العربية
  • News
  • Mining
  • ATM
  • Bitcoin (BTC)
  • Guides
  • How To’s
  • Exchange/Wallet
  • Brokers
  • Bitcoin Price Prediction
  • Home
  • Crypto News
  • 2020 Annual Crypto Revenue Generation For Darknet’s Marketplaces Exceeds $ 1.7 B
  • Crypto News

2020 Annual Crypto Revenue Generation For Darknet’s Marketplaces Exceeds $ 1.7 B

Blaine Matta February 4, 2021 2 min read

Despite the lack of individual interest in the purchase, according to Chainalysis, the marketplaces at Darknet manage to generate revenue exceeding US$ 1.7 Billion – an all-time high record. Chainalysis also points out Hydra Market as the major contributor for Darknet’s annual revenue generation for 2020.

A report titled “Crypto Crime Report” has recently been published by Chainalysis which deals with annual revenue generation by Darknet. As per the report, multiple marketplaces at Darknet collectively managed to generate revenue to the tune of crypto worth approximately US$ 1.7 Billion. Historically, this is by far the all-time high annual revenue generation that the market successfully earned in 2020 alone. The ultimate revenue booster and collector for Darknet was its prominent marketplace called Hydra market.

Hydra Market is the largest marketplace at Darknetwhich is involved in selling illegal goods and items. This marketplace, which is dominated mostly by Russians, sells goods and accepts payments in cryptocurrencies. Hydra was founded in 2015 and its main selling product is supplying illegal drugs which are usually banned. But the marketplace is infamously known also for serving only those countries where people speak the Russian language.

It was suggested by Chainalysis that without Hydra Market, the Darknet’s revenue collection would have remained on the lower side. However, this Russian dominated marketplace single-handedly outperformed every other marketplace at Darkent in terms of generating revenues. This is why since 2019 till to date, Hydra has overshadowed its Western counterparts as well.

As per Chainalysis’s report, at least 75% of revenue sharing was contributed by Darknet alone. It wouldn’t be wrong to suggest also that Hydra is currently the biggest Darknet’s marketplace globally. The report further revealed that Hydra Market alone is the driving factor behind promoting/encouraging Europe’s prime sector for crypto as well. Due to this reason, the major chunk of illegal proceeds earned through crypto transactions is well within this region.

The authorities have also grown concerns over the unique mechanism of goods delivery to consumers because 100% of goods are delivered undetected.

Chainalysis also noted in the report that a large number of Darknet’s consumers are part of North America and Europe. While major portion of stolen crypto is laundered by criminals through OTC-exchanges present in the regions of China as well as Eastern Europe.

Chainalysissuggest that most of the incoming and outgoing money from Darkent is from countries such as the US, China, Russia, and Ukraine. Apart from these countries, Vietnam and Venezuela are too highly ranked consumer countries for Darknet.

Some of the findings observed by Chainalysis were relating to Russia and China regarding their transactional data with Darknet marketplaces. Chainalysis suggested that both countries are actively involved in money laundering activities. Furthermore, criminals from China and Russia then use Darknet’s market for whitening the proceeds.

Post Views: 552

Continue Reading

Previous: Famous Crypto Trader Is Bullish On Three Altcoins As Ether Sets New All-Time High
Next: Cardano Reveals The Value Of ADA In Its Treasury Account

Related Stories

Virtual Payout Review – Essential Questions To Ask About The Broker
3 min read
  • Brokers
  • Crypto News
  • Reviews

Virtual Payout Review – Essential Questions To Ask About The Broker

July 4, 2022
Crypto Hedge Fund 3AC Files for Bankruptcy
2 min read
  • Crypto Marketplace
  • Crypto News

Crypto Hedge Fund 3AC Files for Bankruptcy

July 3, 2022
Singapore Regulator Rebukes 3AC
2 min read
  • Crypto News
  • Regulation

Singapore Regulator Rebukes 3AC

July 2, 2022

Read our disclaimer

Name Price24H (%)
bitcoin
Bitcoin (BTC)
$19,848.37
1.53%
ethereum
Ethereum (ETH)
$1,124.79
3.84%
tether
Tether (USDT)
$1.00
-0.22%
usd-coin
USD Coin (USDC)
$1.00
-0.09%
binancecoin
BNB (BNB)
$228.03
4.05%
ripple
XRP (XRP)
$0.324793
-0.24%
cardano
Cardano (ADA)
$0.460495
0.28%
dogecoin
Dogecoin (DOGE)
$0.068285
1.59%
polkadot
Polkadot (DOT)
$7.04
1.07%
Uniswap
Uniswap (UNI)
$5.09
3.18%

Recent Posts

  • Virtual Payout Review – Essential Questions To Ask About The Broker

    Virtual Payout Review – Essential Questions To Ask About The Broker

    Virtual Payout Review With the cryptocurrency market now valued in trillions, the interest in this space has exploded
  • Crypto Hedge Fund 3AC Files for Bankruptcy

    Crypto Hedge Fund 3AC Files for Bankruptcy

    3AC, the troubled crypto hedge fund that has been making headlines these days, has filed for bankruptcy. Court
  • Singapore Regulator Rebukes 3AC

    Singapore Regulator Rebukes 3AC

    The regulatory authority in Singapore has accused Three Arrows Capital (3AC) of providing false information to its clients
  • Bitcoin Tries Hard to cling to $20k as Its Future is Expected to be Bumpy

    Bitcoin Tries Hard to cling to $20k as Its Future is Expected to be Bumpy

    Just when the price of Bitcoin (BTC) elevated a bit, many investors thought it was growing for good.
  • Brad Garlinghouse Says Ripple will Leave US if it Loses to SEC

    Brad Garlinghouse Says Ripple will Leave US if it Loses to SEC

    The chief executive of Ripple Labs, Brad Garlinghouse, talked about the company’s lawsuit with the Securities and Exchange

Start Trading

Categories

Top Posts

  • Bitcoin Misses End November Forecast But Isn’t Off Track Yet

    Bitcoin Misses End November Forecast But Isn’t Off Track Yet

    Despite the fact that Bitcoin’s missed its expected value of US$ 60,000 plus for the end of November,
  • 6 Crypto CEOs Testify About Threshold Issues, Bitcoin Mining, and other

    6 Crypto CEOs Testify About Threshold Issues, Bitcoin Mining, and other

    US legislators should find ways to carry crypto-related exercises into the controlled monetary framework, while likewise fostering a
  • Top 7 Bitcoin Bull Billionaires

    Top 7 Bitcoin Bull Billionaires

    The majority of early Bitcoin adopters are now billionaires, with Satoshi Nakamoto being at the top of the
  • “Bitcoin is More Vulnerable Against Attacks” Says BIS’s GM

    “Bitcoin is More Vulnerable Against Attacks” Says BIS’s GM

    Agustin Carstens of BIS takes on Bitcoin and says by nature Bitcoin is flawed and contains risks that
  • Parliament Supports Bill Seeking Initiation of Criminal Proceedings against Non-Disclosers of Crypto

    Parliament Supports Bill Seeking Initiation of Criminal Proceedings against Non-Disclosers of Crypto

    A crypto bill was pending consideration before the Parliament of Ukraine concerning crypto disclosures. It was noticed by

Archives

You may have missed

Virtual Payout Review – Essential Questions To Ask About The Broker
3 min read
  • Brokers
  • Crypto News
  • Reviews

Virtual Payout Review – Essential Questions To Ask About The Broker

July 4, 2022
Crypto Hedge Fund 3AC Files for Bankruptcy
2 min read
  • Crypto Marketplace
  • Crypto News

Crypto Hedge Fund 3AC Files for Bankruptcy

July 3, 2022
Singapore Regulator Rebukes 3AC
2 min read
  • Crypto News
  • Regulation

Singapore Regulator Rebukes 3AC

July 2, 2022
Bitcoin Tries Hard to cling to $20k as Its Future is Expected to be Bumpy
2 min read
  • Bitcoin (BTC)
  • Crypto News
  • Price Analysis

Bitcoin Tries Hard to cling to $20k as Its Future is Expected to be Bumpy

July 1, 2022
  • Kraken
  • OrbitGTM
  • Fxoro
  • BTC-Trends
  • KuCoin
  • Huobi
  • Bitfinex
  • PrimeXBT
  • United Exchange
  • Impressive Area
  • DG Flex
  • Tredexo
  • Sure Exchange
  • CTmatador
  • DXCBIT
  • IBC Exchange
  • CryptoPayIn
  • PrimeHolders
  • CMC Markets
  • XCGIN
  • Globe Exchange
  • XPRTcoin
  • Mainrow
  • Goldvence
  • Gamma Capitals
  • Towards Soure
  • CoinsMarkets
  • Cryptos Circus
  • Easy Crypto4U
Copyright © All rights reserved. | DarkNews by AF themes.
  • bitcoinBitcoin(BTC)$19,848.371.53%
  • ethereumEthereum(ETH)$1,124.793.84%
  • tetherTether(USDT)$1.00-0.22%
  • usd-coinUSD Coin(USDC)$1.00-0.09%
  • binancecoinBNB(BNB)$228.034.05%
  • rippleXRP(XRP)$0.324793-0.24%
  • cardanoCardano(ADA)$0.4604950.28%
  • SolanaSolana(SOL)$35.014.35%
  • dogecoinDogecoin(DOGE)$0.0682851.59%
  • polkadotPolkadot(DOT)$7.041.07%
  • UniswapUniswap(UNI)$5.093.18%
  • bitcoin-cashBitcoin Cash(BCH)$106.681.76%