Dark Web Crypto Sales Decline, but Russia’s Kraken Thrives
Global dark web crypto sales took a hit in 2024, falling by 15%.Though, Russia’s Kraken darknet market defied this trend. Chainalysis,a blockchain analysis firm,reported this shift.
Chainalysis found that darknet markets worldwide saw a 15% drop in crypto sales. This decline is due to increased law enforcement pressure.Yet,Kraken,a Russian darknet market,saw a notable rise in crypto transactions.
Chainalysis, a blockchain analysis firm, reported that global darknet crypto sales fell by 15% in 2024. This decline is attributed to heightened law enforcement actions. However, Kraken, a Russia-focused platform, experienced a 68% increase in crypto sales. It has now become the leading darknet market by annual revenue.
Kraken handled $737 million in on-chain transactions in 2024, marking a stark contrast to the global trend. Mega, a major drug supplier, saw its inflows plummet by over 50% year-over-year. Despite this, darknet markets still process substantial crypto volumes annually.
Chainalysis noted that many darknet operators are shifting away from Bitcoin due to its openness. They are now favoring monero, a privacy coin that enhances anonymity.
