Are you finding the cryptocurrency preferred on the hidden wiki? Read this article and know all the details.
The Relation Between Cryptocurrency and Hidden Wiki
Contrary to popular belief, Hidden Wiki and cryptocurrencies have much more in common. It is preferable to use cryptocurrencies for illicit transactions. It may be used for virtual shopping and is described as virtual and digital money. There are several reasons why Hidden Wiki and cryptocurrencies make sense. There are illicit activities on Hidden Wiki while it doesn’t always happen, using Hidden Wiki for illegal purposes is a common occurrence.
In this instance, payment is necessary. Here, cryptocurrencies are employed. You may use cryptocurrencies to pay for a lot of covert services. For some frauds or criminal enterprises, this approach is seen to be safer. One of the best places to find cryptocurrencies is on Hidden Wiki. Additionally, it facilitates anonymity and makes payment processing considerably simpler for users. It can also be utilized unlawfully.
Know the Purpose of Cryptocurrency on the Hidden Wiki
A cryptocurrency preferred on the hidden wiki and dark web for digital payments. Crypto offers protection and confidentiality to a buyer and a seller. Digital wallets are used for financial transactions and are not connected to the user’s personal information. That is why law enforcement is unable to follow the transactions and identify the buyers and vendors.
Countless items that have been moved to the dark web are regarded as its property. These transactions, however, are not governed by a country’s central bank or government. Users are able to send and receive money without disclosing their names because of the pseudonymous nature of these crypto transactions.
The people who use the hidden wiki and dark web have reduced the amount of money they withdraw from external sources. They are concentrating on figuring out how to use their resources in the hidden markets. On these markets, users can purchase and sell commodities and services like narcotics, weapons, illicitly obtained goods, counterfeit goods, and many other items.
Compared to conventional payment systems, cryptocurrencies provide several advantages, such as increased anonymity, faster transaction times, irreversibility, and lower costs.
Cryptocurrency Preferred on the Hidden Wiki
The hidden wiki directory’s anonymous dark web markets facilitate fraud, illegal trading, and other major crimes. These markets rely on bitcoin in order to prevent leaving a money trail that may be utilized in investigations. According to our examination of around 70 dark web marketplaces accepted:
| 90% Bitcoin |
| 75% Monero 20% Litecoin |
| <10% ZCash |
| <5% Ethereum, Dash, or Bitcoin Cash |
NOTE: The vast majority of dark web and hidden wiki marketplaces (69%) accept two or more cryptocurrencies.
Bitcoin (BTC): 90%
The cryptocurrency preferred on the hidden wiki is Bitcoin, which is a popular cryptocurrency used in dark web marketplaces. It is used for purchasing malware, drugs, illegal firearms, and unlawful content. It is also used in money laundering to cover criminals’ tracks. Ransomware attackers often request victims to pay their ransoms in Bitcoin, making payments less traceable.
However, Bitcoin’s main flaw is its pseudonymity, which means users cannot be fully anonymous. A Bitcoin wallet address can be used to track down a user’s identity, which can be challenging but is possible as most cryptocurrencies are pseudonymous.
Monero (XMR): 75%
Monero is a privacy coin designed to keep user information private, including wallet addresses, names, and contact details. It uses stealth addresses and one-time wallet addresses, which are disposed of once a transaction is over, making it difficult for a user to be tracked down.
Monero has also been requested for payments by ransomware attackers on the hidden wiki and dark web. It offers to lower the ransom amount if the victim pays in Monero over Bitcoin. All Monero users must use shielded addresses when trading XMR and use ring signatures to shield public keys and transaction amounts.
Litecoin (LTC): 20%
Litecoin, a cryptocurrency similar to Bitcoin, offers the same pseudonymity and faster transaction times. Its presence on illicit marketplaces is solid, with 21% of dark web platforms accepting Litecoin payments. While not as popular among cybercriminals as Bitcoin and Monero, Litecoin’s presence on illicit marketplaces is solid.
A Holland FinTech study found that 21% of dark web platforms accept Litecoin payments. Recorded Future conducted a similar study, finding Litecoin as the second-most popular crypto on dark web marketplaces. Monero has somewhat replaced Litecoin on the dark web in recent years due to its heightened privacy features.
ZCASH (ZEC): 10%
ZCASH cryptocurrency is preferred on the hidden wiki, which allows users to conceal their wallet addresses during transactions, unlike Monero. It offers a transparent public address or a shielded private address, making it a semi-private cryptocurrency. This feature has caught the attention of malicious actors, making it less desirable among cybercriminals. Monero (XMR), on the other hand, is more popular and provides the same level of anonymity.
Ethereum (ETH), DASH (Dash), or Bitcoin Cash (BCH): < 5%
Bitcoin Cash (BCH), DASH (Dash), and Ethereum (ETH) are popular cryptocurrencies among cybercriminals on the hidden wiki and dark web. These cryptos work by scrambling transactions to make users hard to trace. Like ZCASH, their anonymity features are optional. Although not used as often, they have a small presence on illicit platforms. The growth of these cryptos on the dark web may be observed, but privacy coins like Monero and ZCASH may soon replace them.
Why Criminals Preferred Cryptocurrencies on the Hidden Wiki
Cryptocurrencies offer a more secure alternative to traditional payment methods. They hide all user data within a transaction except for the sender and recipient’s wallet address, providing more privacy than traditional payment methods. This makes it harder for anyone to trace your actions. However, this added layer of privacy has led to cybercriminals using cryptocurrency to move illegitimately used or stolen funds, such as buying drugs or subscribing to ransomware-as-a-service platforms.
Even funding terrorist acts can be directed through cryptocurrency. It allows cybercriminals to excuse law enforcement more successfully. This privacy has led to the cryptocurrency preferred on the hidden wiki and dark web by malicious actors to buy drugs, subscribe to ransomware-as-a-service platforms, and fund terrorist acts. Thereby enhancing their ability to circumvent law enforcement.