$515 Million In Bitcoin Spent On Illicit Activity This Year Representing 1% Of Total BTC Activity
Half a billion dollars in BTC spent on illegal transactions so far this year, research says; however, 99% of BTC transactions in 2019 have been legitimate. The research suggests that by the end of the year, this figure will double to reach $1 billion.
On the other hand, the volume of BTC spent on unlawful services and products versus prison ones is at the decline. Chananalysis government Hannah Curtis says that simply 1% of BTC task this 12 months is against the law task, which is down from 7% in 2012.
As per the report, the $515 million spent on illegal activities was used in transactions on the dark web: a small subsection of the deep web, which is in turn subsection of the internet that doesn’t appear in search engines (e.g. Google).
The most important unlawful darkish internet market for spending BTC is reported: “Hydra.” BTC is it appears the cryptocurrency of selection on such marketplaces, and Monero (XRM) is available in 2nd, in line with the record. Oftentimes, those marketplaces are concerned within the distribution of substances and/or unlawful pornography.
As previously reported by Cointelegraph in April, for instance, two men behind the dark web marketplace NextDayGear pled guilty to selling steroids and controlled substances and to money laundering. The website apparently offered injectable and oral steroids, as well as Xanax, Valium and Viagra as a means to stymie unwanted side effects.