Darknet Crypto sales Drop globally, but Russia’s Kraken Thrives
Global darknet crypto sales fell by 15% in 2024. Though, Russia’s Kraken market defied this trend, according to Chainalysis.
Chainalysis, a blockchain analysis firm, reported a 15% decline in darknet market revenue. This drop is due to increased law enforcement efforts. Yet, Kraken, a Russia-focused platform, saw a 68% increase in crypto transactions.It now leads in annual revenue after Hydra’s closure in 2022.
Kraken handled $737 million in 2024.
Simultaneously occurring, Mega, a major drug supplier, saw its inflows drop by over 50%. Despite the global decline, darknet markets still process hundreds of millions in crypto annually.
Law enforcement and blockchain clarity have pushed many operators away from Bitcoin. They now prefer Monero, a privacy coin that enhances anonymity.
- Global darknet crypto sales fell by 15% in 2024.
- Russia’s Kraken market saw a 68% increase in crypto transactions.
- Many operators moved to accepting only Monero for better anonymity.
Chainalysis noted that darknet markets still handle meaningful crypto volumes. however, the shift to Monero highlights the ongoing battle between law enforcement and darknet operators.
