Cryptocurrencies and the Dark Web: A Mysterious Relationship Between Privacy and Crime
Cryptocurrencies, especially Bitcoin, have been associated with the dark web since their inception, becoming a preferred means of payment for illicit transactions due to their privacy and difficulty of tracing. These currencies have been used in black markets to purchase drugs, weapons, and recruit recruiters for the yen, as was the case with the Silk Road platform, which was shut down by authorities in 2013.
However, the relationship is not limited to illegal activities. Cryptocurrencies also support financial privacy and fund legitimate projects on the dark web, such as free speech networks and uncensored VPN services.
Despite government efforts to monitor transactions through blockchain analysis, some cryptocurrencies such as Monero and Zcash offer levels of encryption that make tracing nearly impossible. Thus, the relationship between the dark web and cryptocurrencies remains complex, balancing financial freedom with legal risks.