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Monero: a darknet marketplace where XMR was used was closed down
Monero: a darknet marketplace where XMR was used was closed down
Altcoin

Monero: a darknet marketplace where XMR was used was closed down

By Alfredo de Candia - 13 Jan 2021

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In a recent press release issued by Europol, we learned of the closure of yet another black market website on the darknet, involving over half a million users worldwide and where Monero (XMR) was used as a payment method.

Black markets can be used to buy and sell almost anything, including illegal things, and have been the number one vehicle for the use of crypto since the inception of Bitcoin, which has unfortunately led to crypto and the industry being branded as something only useful for criminal activities.

Recall for example the famous case of Silk Road whose founder Ross Ulbricht is still in prison.

In this case, the platform in question was stopped thanks to the intervention of the police of several countries such as Germany, Australia, Denmark, Ukraine, England and even the United States, and the cooperation of several agencies such as the NCA, DEA, FBI and IRS.

Monero and Bitcoin on the darknet market

Thus, thanks to the investigations led by the German police, a series of servers were discovered where a treasure trove of information was found, which made it possible to recover various information on the movement of the cryptocurrencies involved.

The operation monitored more than 500 thousand users, more than 2400 sellers, more than 320 thousand transactions of which 4650 were in Bitcoin (BTC) and 12800 in Monero (XMR): about 5% of all transactions were made with other payment methods, showing that the use of these crypto assets is not at the top of the list for criminals.

All sorts of illegal services and goods were sold on the black market, such as hard drugs, weapons, credit cards, counterfeit currencies and even SIM cards.

This is certainly a blow for the black market, although it is not enough to counteract the phenomenon, as several portals on the darknet surface with each closure, precisely because the turnover is monstrous, especially with regard to drugs.

Alfredo de Candia
Alfredo de Candia

Android developer for over 8 years with a dozen of developed apps, Alfredo at age 21 has climbed Mount Fuji following the saying: "He who climbs Mount Fuji once in his life is a wise man, who climbs him twice is a Crazy". Among his app we find a Japanese database, a spam and virus database, the most complete database on Anime and Manga series birthdays and a shitcoin database. Sunday Miner, Alfredo has a passion for crypto and is a fan of EOS.

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