Featured
Bitcoin Criminals Set to Spend $1 Billion on Dark Web This Year

(Bloomberg) — Bitcoin’s use in illegal online marketplaces is on pace to set a record this year at more than $1 billion, according to a report by Chainalysis.
While the proportion of Bitcoin transactions dedicated to illegal purchases is declining, about $515 million of the digital coin has already been spent this year on the so-called dark web, according to the firm, which helps companies such as cryptocurrency exchanges investigate and prevent illegal transactions.
Dark-net spending in Bitcoin peaked in 2017, at $872 million, and declined last year as the coin’s price took a dramatic dive.
The findings are a reminder of the regulatory risks surrounding the digital tokens, which are beloved by criminals looking to preserve some degree of anonymity. Last month, the Financial Action Task Force — an inter-governmental organization focused on combating money laundering and terrorist financing — began mandating strict know-your-customer measures for crypto exchanges and custodians. Also in June, Europol met with companies in the space to trade tips on best practices in detecting crypto-facilitated crime.
Of all the illegal online marketplaces, Hydra is the largest, according to Chainalysis, which examined transactions on the Bitcoin blockchain to see how much was being spent on these sites.
Drugs are the most prominent category of goods sold, stolen credit-card information are also in demand, Chainalysis found. Bitcoin is the most popular cryptocurrency accepted on these marketplaces, followed by Monero, Chainalysis said.
While the growth in illicit Bitcoin spending may be alarming, a major caveat is that the proportion of Bitcoin transactions tied to illicit deals is declining.
Illegal activity has accounted for less than 1% of all Bitcoin activity so far this year — down from 7% in 2012, according to Hannah Curtis, senior product manager of data at Chainalysis.
-
OER Magazines2 months ago
Dossier – ToP 25 Personalities 2025
-
Dossier2 months ago
Arabic Dossier – ToP 25 Personalities 2025
-
Alamaliktistaad Magazines2 months ago
Al-iktisaad, August 25
-
OER Magazines2 months ago
OER, August 2025
-
News2 months ago
xAI Open-Sources Grok 2.5, Signaling Accelerated AI Push
-
Entertainment2 months ago
Here’s a Complete Overview of the 2025/2026 Season at the Royal Opera House Muscat
-
News1 month ago
Sultan Center Unveils Flagship Al Hail Store, Elevating Premium Retail Experience in Oman
-
Gadgets2 months ago
Panasonic, OMASCO Mark 50-year Partnership with Launch of new EU-Series AC Designed for Oman Market
You must be logged in to post a comment Login