Cryptocurrencies accounted for $1.8 billion (R26.4 billion) of drug money revenues in 2021, according to research by BanklessTimes. Moneyweb CryptoCurrency CiaranRyan
Cryptocurrencies accounted for $1.8 billion of drug money revenues in 2021, according to research by Banklesstimes. This, it says, represents 85% of the total revenue generated in these ‘darknet markets’. The darknet is a part of the internet where communications and transactions can be done anonymously, and is often used by criminals .
” Darknet markets Hydra, a market designed for Russian-speaking countries, continues to dominate global darknet markets. Hydra’s revenue in 2021 accounted for about 80% of the entire darknet market’s revenue, according to the US Department of Justice . Other darknet markets include DarkMarket, ByPass Shop and Flugsvamp Market. A joint law enforcement effort by the DoJ and German authorities led to the seizure and closure of the Hydra market on April 5 this year.