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March 5, 2024
Dark Web Market Revenues Rebound but Sector Fragments
Infosecurity Magazine
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Contributed by: Drex DeFord
Summary
Dark web 2023 revenue hit $1.7bn in cryptocurrency, per Chainalysis data, up from 2022 when Hydra, the largest player, shut down. Mega Darknet, Kraken Market, Blacksprut replaced Hydra but with no dominance. Markets now focus on specific illicit services like laundering, cybercrime enablement, drug supply, among others. Some markets, like Mega Darknet, Kraken Market, advertise openly in Russia. Fraud shops use third-party crypto-payment processors to cut costs, boost efficiency, and improve security.
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