DARKNET DRUG TRAFFICKING AND CRYPTOCURRENCY

Darknet drug trafficking involves the use of a commercial website to sell illegal drugs. These commercial websites exist through darknets using software like Tor. Tor is free software that allows anonymous communication through an overlay network that uses thousands of relays to hide a user’s identity and location. This overlay network is more commonly known as the darknet. The concept of darknet drug trafficking was made famous by the first giant in the industry, Silk Road. Silk Road was the first darknet marketplace to use both Tor and Bitcoin in unison to allow for a completely anonymous transaction. Silk Road serviced over 100,000 customers during its time online before it was shut down by the FBI in 2013. During the shutdown, the FBI seized approximately 144,000 Bitcoins, worth about $28.5 million. Despite the best efforts of law enforcement, Silk Road became the blueprint of how to operate a darknet drug market through the use of Tor, cryptocurrency, and user feedback systems like the one that exists on eBay. If you have specific questions related to a drug trafficking case, then it is important that you speak to an experienced federal drug trafficking attorney right away.

TOP 10 COUNTRIES BY CRYPTOCURRENCY USED FOR DARKNET DRUG TRAFFICKING

Darknet drug trafficking has become a huge worldwide business. In an annual online crypto crime report, blockchain investigations firm Chainalysis details the statistics related to online criminal activity involving cryptocurrency. All of the money exchanged here was in cryptocurrency converted to dollars to better understand the value.

1. Russia: In 2020, Russia sent $169 million worth of cryptocurrency to darknet drug markets while receiving $119 million due to darknet markets. The total value of $288 million puts Russia at the top of the list for darknet drug markets in 2020. The Hydra marketplace in Russia is Eastern Europe’s largest and is the main reason for Russia’s position on this list.
2. United States: In 2020, the United States sent $115 million to darknet drug markets while receiving $64 million due to darknet drug markets. The total value of $179 million places the US second on the list for darknet drug markets in 2020. This data supports the idea that darknet users in the United States are much more likely to buy than sell on the darknet.
3. Ukraine: In 2020, Ukraine sent $47 million to darknet drug markets while receiving $52 million due to darknet drug markets. The total value of $98 million places Ukraine third on the list of darknet drug markets in 2020. Hydra is also a major factor here in Ukraine’s placement on this list.
4. China: In 2020, China sent $45 million to darknet drug markets while receiving $43 million due to darknet drug markets. The total value of $87 million places China fourth on the list of darknet drug markets in 2020.
5. United Kingdom: In 2020, the United Kingdom sent $33 million to darknet drug markets while receiving $22 million due to darknet drug markets. The total value of $56 million places the United Kingdom fifth on the list of darknet drug markets in 2020.
6. Venezuela: In 2020, Venezuela sent $35 million to darknet drug markets while receiving $20 million due to darknet drug markets. The total value of $55 million places Venezuela sixth on the list of darknet drug markets in 2020. Former President Nicolas Maduro has been charged with corruption and drug trafficking, along with other officials.
7. Vietnam: In 2020, Vietnam sent $24 million to darknet drug markets while receiving $24 million due to darknet drug markets. The total value of $48 million places Vietnam seventh on the list of darknet drug markets in 2020.
8. Turkey: In 2020, Turkey sent $23 million to darknet drug markets while receiving $22 million due to darknet drug markets. The total value of $45 million places Turkey eighth on the list of darknet drug markets in 2020.
9. India: In 2020, India sent $24 million to darknet drug markets while receiving $18 million due to darknet drug markets. The total value of $42 million puts India ninth on the list of darknet drug markets in 2020.
10. Germany: In 2020, Germany sent $23 million to darknet drug markets while receiving $18 million due to darknet drug markets. The total value of $41 million puts them tenth on this year’s list. Germany has the third-highest number of Tor users behind the United States and Russia.

If you have any further legal questions about cryptocurrency-related drug trafficking or are currently facing criminal charges, call us at Bajoka Law so we can help.