Editor's Note: This article comes fromCybtc Blockchain (ID: cybtc_com), reprinted by Odaily with authorization.

Editor's Note: This article comes from

Cybtc Blockchain (ID: cybtc_com)

, reprinted by Odaily with authorization.

In total, darknet markets saw a record $1.7 billion worth of cryptocurrency transactions during 2020, according to excerpts from a forthcoming report published yesterday by crypto data firm Chainalysis.

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Hydra Hydra

The researchers found that not only did Hydra account for 75 percent of global darknet market revenue in 2020, but it was unique in that it only served Russian-speaking countries. At the same time, it is currently the largest platform of its kind in the world.

“Hydra is an important driver of Eastern Europe’s unique crypto crime landscape. Eastern Europe has one of the highest volumes of cryptocurrency transactions related to criminal activity, and thanks to Hydra, it is a top 10 entity sending cryptocurrency value to the region One, the only area that provides criminal services."

Hydra accounts for 75% of global darknet market revenue

And the platform may eventually expand to English-speaking countries as well. To that end, Hydra even announced plans to raise $146 million through an initial coin offering (ICO), which will be used to create Eternos, a global darknet marketplace not limited to Eastern Europe. However, Chainalysis asserts that criminals are also facing the pain of the coronavirus pandemic, which has delayed the plan.

But when Hydra eventually expands into the U.S. and Europe, it could create a lot of new headaches for local law enforcement due to the platform's "Uber-like" system of assigning criminal deliveries to anonymous couriers.

“[Couriers] drop off their packages at remote, hidden public locations, often called “coin booths,” and share them with buyers. This eliminates the need for a physical exchange, and is a far cry from the traditional darknet The market is different, and suppliers don't need to risk using the postal system.

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Personal information scams more popular than drugs

With the exception of Hydra and other marketplaces serving specific regions, in 2020, darknet activity was less prevalent in English-speaking countries. It's worth noting that some of the largest platforms of this kind are personal information scam marketplaces (rather than drug dealing marketplaces), selling credit card information and other stolen personal data from scammers and hackers.