A new study disclosed by Chainalysis has revealed that the use of Bitcoin as a form of payment on darknet markets nearly doubled during last year: it surged to around $2 million daily, almost twice the volume registered in the beginning of 2018.
Darknet marketplaces sell from illegal drugs to guns and fake IDs — and Bitcoin, the most popular cryptocurrency around the world, has long been used for payments thanks to the anonymity it provides: users do not reveal their identities.
And although some darknet sites were shut down last year, it seems like darknet markets are here to stay — with sophisticated ways to deceive law enforcement or simply through the migration of their activity to new platforms and services.
“Darknet market activity has been remarkably resilient over the last few years, despite continued efforts by law enforcement to shut down illicit activities. When one darknet market closes, others pop up to take its place.” — Chainalysis.
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