One of Eastern Europe’s Biggest Crypto Services Is a Darknet Market

One of Eastern Europe’s Biggest Crypto Services Is a Darknet Market

Gate Trade News Tuesday, September 15, 2020 19 0

A cryptocurrency-fuelled black market is one of the largest crypto services in Eastern Europe, according to a year-long study by blockchain analysis firm Chainalysis.

 

In its 2020 Geography of Cryptocurrency Report, an excerpt of which was published today, Chainalysis found that darknet market Hydra is the sixth-largest crypto service by volume in the region, which comprises Russia, Ukraine among other countries. 

 

Darknet markets are online black markets on which one can buy and sell drugs, fake passports, and other illicit goods and services for cryptocurrency. 

 

“No other region has a darknet market or other illicit service in its top ten services,” Chainalysis’s research team wrote in the report.