Cryptocurrencies
Darknet Market Had a Record 2020, Led by Russian Bazaar Hydra
- Hydra accounts for more than 75% of all darknet sales: report
- Global sales rose to $1.75 billion from $1.42 billion in 2019
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The darknet market, where cryptocurrency is used to buy and sell illicit goods online, generated record revenue last year, led by the Russian bazaar Hydra, according to a research report by blockchain forensics firm Chainalysis.
Revenue rose 23% to $1.75 billion of cryptocurrency in 2020 even as the number of total darknet purchases fell, the firm said. Revenue at Hydra, which only serves Russian-speaking countries, jumped 33% to $1.37 billion, accounting for more than 75% of sales worldwide.