Falling Cryptocurrency Market Stalling Cybercrime Activity
Understanding the Darknet Market
The darknet market has become a notable topic in recent years, attracting attention from various sectors, including law enforcement, cybersecurity experts, and the general public. As a hidden part of the internet, it offers a space for the exchange of goods and services outside conventional regulations.
While it included some innocuous listings such as health supplements, the majority of vendors and most of the sales were related to illicit drugs. Silk Road not only aggregated thousands of drug vendors, it created a user-friendly interface that resembled a clear-net shopping website. Ulbricht was eventually arrested by US law enforcement and Silk Road was seized and taken offline.
Both Blacksprut and Mega have also sent funds to deposit addresses on this exchange used previously by Hydra, but none as much as OMG. We can see this on the chart below, which shows the total amount sent by each market to shared deposit addresses. In the wake of an operation to take down the global online platform that sold stolen identities, people are being urged to check if they have been affected. Many researchers, however, doubted this claim, saying the hackers were able to make it appear back online because the website where they listed victims was run as an onion service, a specialized type of anonymous website that can only be accessed over the Tor network. Some of the users were in the U.S., officials said, declining to provide any other details about them.
The indictment details multiple illicit transactions that took place on the platform, including five grams of methamphetamine purchased through Hydra and shipped from Ukraine to San Francisco in September 2020. Had already amassed $12.15 million in sales by the end of its first month in operation (April 2022). As of this publishing, Mega currently appears to be the biggest of the five Russian language DNMs. Mega received nearly $40 million in March 2023, followed by Blacksprut with around $20 million. Almost a year after Hydra’s takedown, five markets—Mega, Blacksprut, Solaris, Kraken and OMG! Market—have emerged as the biggest players based on the volume of offers and the number of sellers.
Current Trends in Darknet Market News
Staying updated with darknet market news is crucial for understanding its evolving landscape. Some current trends include:
- Increased Regulation: Governments are tightening controls on cryptocurrency and darknet transactions.
- Shifts in Popular Markets: Established markets often close, giving rise to new platforms for illegal trade.
- Enhanced Security Measures: Users employ sophisticated methods to remain anonymous and protect their data.
Despite that crackdown, the carder ecosystem rebounded by May 2022, threat intelligence firm Recorded Future reports. Ransomware-as-a-service groups patronize these black market e-commerce sites to advertise for affiliates. Initial access brokers use them to advertise new victims, while malware developers hawk their wares and data brokers sell stolen information, including payment card details. They’re typically reachable only via an anonymizing network – aka darknet – such as Tor or I2P.
“It is frankly frightening,” one user wrote in response to news of the AlphaBay takedown. Launched in 2015, the Russian marketplace, Hydra Market, was known for its trade in drugs among other things. The Hydra Market grew to become one of the biggest marketplaces on the darknet, accounting for around 80% of darknet activity and amassing 19,000 seller accounts and 17 million customers. In terms of drug sales, Hydra Market became the largest narcotic market among the former countries of the USSR. Hydra Market met a similar demise to the Silk Road when it was shut down by German police in April 2022. Hydra was the illegal marketplace with the highest turnover worldwide, German authorities said.
Although the collective revenues of drugs markets didn’t recover fully, they slowly crawled back up to reach previous levels thanks to the success of Mega Darknet Market, Blacksprut Market and OMG! Experience Flare for yourself and see why Flare is used by organization’s including federal law enforcement, Fortune 50, financial institutions, and software startups. In the wake of Hydra market’s collapse in 2022, new markets quickly swooped in to try and replace it. Is an English and Russian language marketplace that seems to have captured many of Hydra’s former vendors and consumers. Since the summer of 2022, the aforementioned markets have waged war against each other, involving the spreading of rumors, the doxing of administrators and staff members, distributed denial of service attacks and breaches. Genesis specialised in the sale of digital products, especially “browser fingerprints” harvested from computers infected with malicious software, said Louise Ferrett, an analyst at British cybersecurity firm Searchlight Cyber.
Notable Darknet Marketplaces
Several significant marketplaces have emerged in the darknet space, and keeping track of their activity is essential for those interested in darknet market news. Here are a few key players:
- Hydra Market: Based in Russia, it dominates Eastern European markets.
- AlphaBay: Originally taken down by law enforcement but recently resurfaced with new features.
- Silk Road 3: A continuation of the infamous Silk Road with renewed interest and activity.
Frequently Asked Questions about Darknet Market News
1. What types of products are typically sold on the darknet?
The dark web primarily offers illicit goods such as:
- Drugs
- Stolen data
- Counterfeit currencies and documents
- Hacking services
- HSI’s international presence represents DHS’s largest investigative law enforcement presence abroad and one of the largest international footprints in U.S. law enforcement.
- KillMilk put the Infinity Forum up for sale for unknown reasons, which may be good news that the forum may be disbanded, but KillNet has since relaunched its Telegram forum.
- Rating services are increasingly popular since dark web marketplace “exit scams” remain high.
- SAN FRANCISCO (CN) – The United States and Germany took down the world’s largest and longest-running online criminal marketplace Tuesday, as the U.S. indicted a Russian man accused of keeping the illegal sales hub running for almost seven years.
- For example, in late 2013 the operators of Sheep Marketplace are alleged to have disappeared with nearly 40,000 bitcoins – now worth around $1.7 billion – belonging to their customers.
2. How do people access darknet markets?
To access the darknet, users typically employ:
- Tor Browser: Software that allows anonymous communication.
- VPNs: Virtual private networks to enhance security while browsing.
3. Is the darknet market illegal?
While the darknet itself is not illegal, many activities conducted on these platforms violate the law, making the associated transactions illegal.
Conclusion
Keeping up with darknet market news offers insights into the complex, often dangerous world of illicit online transactions. Understanding the trends, major players, and potential legal implications is essential for anyone interested in this hidden corner of the internet.
