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Almost 1 million bitcoins circulate on the darknet

International consortium of news organizations developing transparency standards.

According to Chainalysis, nearly one million bitcoins are owned by the Dark Web market. Cryptocurrencies are most often used by cybercriminals in the “shadow internet” space.

The Darknet is one of the most popular markets for cryptocurrencies

According to the resource Chainalysis, more than half a million bitcoins circulate in the darknet space. Most often, cryptocurrencies are used for payments for prohibited goods, including pirated programs and computer viruses.

“The illegal markets currently have 585,000 BTC in circulation, the scammers own 99,000 BTC, the stolen funds amount to an additional 205,000 BTC, and everyone else holds an additional 3,000 BTC – a total of 892,000 BTC,” Chainalysis said in a statement..

However, according to data from Chainalysis, only 0.32% of all existing bitcoins are used in the shadow internet..

Roughly 300,000 bitcoins are being held by scammers and cybercriminals. In recent years, crypto exchanges have become more serious about KYC procedures and FATF guidelines. As a result of this policy, it becomes more difficult for criminals to sell illegally obtained cryptocurrencies, which also promises the market to rise and develop..

Bitcoin turnover on the darknet set an annual record

Analyst firm Crystal Blockchain has published the results of a recent study showing that the volume of bitcoins passing through the darknet sites has reached the maximum values ​​in dollar terms this year. Altcoin Utilization has also shown an increase.

Almost 1 million bitcoins circulate on the darknet

According to the results of the 1st quarter of 2020, the turnover indicators of BTC and altcoins on the darknet increased significantly in dollar terms. In their study, experts used the values ​​of the volume of bitcoins entering and exiting the darknet, comparing them with indicators for the same quarter of previous years..

It is noteworthy that the number of bitcoins itself has decreased, however, the growth in the rate of this cryptocurrency led to an increase in its dollar value by 65%. In addition, the growth in popularity of altcoins also affected the reduction in the number of BTC..


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