A dark web is a hidden market on the internet where illicit goods are traded for sale with cryptocurrencies as a payment method because of its anonymity in nature. Not all the goods on the dark web are illegal, however, illicit goods such as drugs, stolen information, weapons are the most found items in this type of market.
- Some say the dark web is where cryptocurrency crimes take place. But who could doubt that the transactions in the hydra market are anonymized?
The dark web market is stipulated on the Tor network where traffic is often relayed and encrypted three times as it passes through the network. This ensures that the anonymity of both the users and dark web market providers remains intact.
In the dark web market, transactions take place with cryptocurrencies such as Bitcoin and Ethereum using dark wallets, which gives extra anonymity to sellers and buyers. And most of the time, transaction payments are made to be overseen by a trusted operator of the site known as escrow – this helps eliminate Bitcoin fraud and protect your crypto as you transact.
Everything in the dark web market is done secretly. And if you are buying or selling digital goods, it’s hard to have a loose end. But for buying and selling illegal physical goods, the shipping of the goods has always been a problem, as it has to go through the postal system.
How the Dark web works
The dark web is mainly for the sale of illegal drugs such as cannabis and cocaine-related products. On the dark web, each seller has their own review and ratings based on the satisfaction of customers who purchased from them.
For sellers selling physical goods, the dark market moderator provides adequate information about ways to get packages safely to buyers through the mail. With proper shipping tips and methods from the market moderators to avoid detection from the law agencies, buyers won’t have to worry about not delivering their packages successfully.
What can you buy from the Dark Web?
Even though illegal drugs are sold on the dark web, there are other products and services to get from this market. While most of the dark market provides illegal services and products, some of the markets avoid engaging in selling illegal goods such as weapons and poisons.
- As days go by, the new dark web is getting developed every day as the old ones are getting shut down by law enforcement agencies. Recently, the dark web is being created as a decentralized marketplace which makes it difficult to be shut down.
- This allows sellers to easily open their online shops on the dark web, allowing customers to buy directly using cryptocurrencies. While there are risks of these types of new decentralized marketplace getting shut down in the future by the law enforcement agency, it’s happening now.
Law enforcement agency often targets the shipping of illegal products because they find it hard to track down buyers and sellers on the dark web.
Why is hydra a successful marketplace?
The success of the hydra marketplace depends on how they keep its users in line with stringent seller requirements. For example, most hydra marketplace allows their users to make over 50 successful sales below withdrawal is allowed.
And to keep the anonymity of each seller, verification like “know your customer” KYC is not required for sellers and buyers in any way. Also, cryptocurrency transactions are performed from exchanges that do not require their users to go through KYC verification to maintain anonymity – both deposit and withdrawal from the hydra market are on secured exchanges.
An event that happens in 2021, leading to the fall of the top dark web marketplace known as Dark Market goes like this:
The dark market which has over a million users was taken down by Europol in 2021. According to Europol, the stat of the marketplace before it was taken down goes like this:
- 500,000 users;
- more than 2,400 sellers;
- over 320,000 transactions;
- more than 4,650 bitcoin and 12,800 Monero transferred.
After the marketplace was shut down, a suspected Australian citizen alleged as the website owner was arrested. The arrest was made by the Central Criminal Investigation Department in Oldenburg, Germany. After the arrest was made, over 70 servers were eventually switched off. According to Europol, the data obtained by the German Federal Criminal Police Office (BKA) will be used for further investigations.
The dark web community continues to positively grow as the cryptocurrency market booms with a chance of future change.