🏴☠️ Global darknet crypto sales down 15% in 2024 - but not in Russia
According to Chainalysis, total darknet market revenue dropped last year - except in Russia, where the sector grew +68%, driven by the rise of the "Kraken" darknet market (not to be confused with the exchange).
Key takeaways:
- Global darknet markets brought in ~$2B in $BTC
- Russia’s "Kraken" alone processed $737M in crypto
- Older markets like M*ga and Bl*cksprut declined
- Monero adoption increased as vendors moved away from traceable Bitcoin
- Vendors now prefer DeFi over centralized exchanges for cashing out
Hydra may have collapsed, but its network adapted. And as KYC rules tighten, DeFi becomes the go-to workaround.
📌 The illicit crypto economy isn't disappearing - it's evolving.
