Ironically, evidence of cryptocurrency transfers - which many people believed to be totally anonymous - were used against the site’s operator during his criminal trial, where he was convicted on charges of money laundering and other offenses, and sentenced to life in prison. The infamous Silk Road market popularized Bitcoin as a preferred payment method for criminal activities, before being shut down by the Federal Bureau of Investigation in 2013.
The Rise of Bitcoin in the Darknet Economy
A darknet market is a website that facilitates the sale and exchange of illicit goods and services on the dark web.Ĭryptocurrency is commonly used on darknet markets due to its perceived anonymity and its ease and efficiency for transferring funds across international borders.
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