{"id":35722,"date":"2021-02-02T14:17:26","date_gmt":"2021-02-02T12:17:26","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=35722"},"modified":"2025-08-29T02:41:32","modified_gmt":"2025-08-28T23:41:32","slug":"russia-and-ukraine-lead-darknet-cryptocurrency-transaction-volumes","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/russia-and-ukraine-lead-darknet-cryptocurrency-transaction-volumes\/","title":{"rendered":"Russia and Ukraine Lead Darknet Cryptocurrency Transaction Volumes"},"content":{"rendered":"<p>In 2020, the total volume of cryptocurrency payments on the darknet amounted to $1.7 billion. The top three by turnover on the darknet were Russia, the United States and Ukraine.<!--more--><\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">Which countries drove darknet market activity in 2020? <a href=\"https:\/\/t.co\/JsYZZihtUJ\">https:\/\/t.co\/JsYZZihtUJ<\/a><\/p>\n<p>\u2014 Chainalysis (@chainalysis) <a href=\"https:\/\/twitter.com\/chainalysis\/status\/1356284700646649856?ref_src=twsrc%5Etfw\">February 1, 2021<\/a><\/p>\n<\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>In Russia, annual darknet cryptocurrency turnover exceeded $288 million; in the United States, $179 million; in Ukraine, $98 million.<\/p>\n<p>China occupied fourth place with $87 million. Vietnam closed the top five with $56 million.<\/p>\n<div id=\"attachment_123688\" style=\"width: 970px\" class=\"wp-caption alignnone\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-123688\" class=\"size-full wp-image-123688\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/60180fe56e2a415c3d2c6084_zzz-HeZ02yuF45ImE5TbGLvS6qfqQtg94SLEOgrZzaqBHYAnroz3PuACav9Yz0dZOQku4B-FDdad-h12glTJyOCkl27h4-3WxkUiZL3xZGAqVOqWJX5GdXR9sF_-KqHm5ZXGNS0y.png\" alt=\"Russia and Ukraine lead darknet cryptocurrency transaction volumes\" width=\"960\" height=\"540\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/60180fe56e2a415c3d2c6084_zzz-HeZ02yuF45ImE5TbGLvS6qfqQtg94SLEOgrZzaqBHYAnroz3PuACav9Yz0dZOQku4B-FDdad-h12glTJyOCkl27h4-3WxkUiZL3xZGAqVOqWJX5GdXR9sF_-KqHm5ZXGNS0y.png 960w, https:\/\/u1f987.com\/wp-content\/uploads\/60180fe56e2a415c3d2c6084_zzz-HeZ02yuF45ImE5TbGLvS6qfqQtg94SLEOgrZzaqBHYAnroz3PuACav9Yz0dZOQku4B-FDdad-h12glTJyOCkl27h4-3WxkUiZL3xZGAqVOqWJX5GdXR9sF_-KqHm5ZXGNS0y-300x169.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/60180fe56e2a415c3d2c6084_zzz-HeZ02yuF45ImE5TbGLvS6qfqQtg94SLEOgrZzaqBHYAnroz3PuACav9Yz0dZOQku4B-FDdad-h12glTJyOCkl27h4-3WxkUiZL3xZGAqVOqWJX5GdXR9sF_-KqHm5ZXGNS0y-768x432.png 768w\" sizes=\"auto, (max-width: 960px) 100vw, 960px\" \/><\/p>\n<p id=\"caption-attachment-123688\" class=\"wp-caption-text\">Data: Chainalysis.<\/p>\n<\/div>\n<blockquote>\n<p>&#8220;The United States, Russia, Ukraine, and China dominate in the value of both sent and received funds. We suspect that a significant portion of the volume from China and Russia received by darknet markets is linked to money laundering in these countries,&#8221; according to the Chainalysis report.<\/p>\n<\/blockquote>\n<p>Most often, users send funds via cryptocurrency exchanges, P2P platforms and mixing services. To obtain them, they use exchanges and mixers.<\/p>\n<blockquote>\n<p>&#8220;We see a significant rise in the popularity of mixers: their share more than doubled\u2014from 5% in 2019 to 13% in 2020. This reflects growing caution among darknet sellers and administrators following crackdowns by law enforcement,&#8221; say Chainalysis analysts.<\/p>\n<\/blockquote>\n<p>Hydra, a leading dark-market service provider, accounts for 75% of all darknet revenue.<\/p>\n<p>In terms of cryptocurrency turnover, Hydra ranked among the top 10 platforms in Eastern Europe and even surpassed some popular exchanges such as Kraken, OKEx and Poloniex.<\/p>\n<p>Chainalysis analysts note that excluding Hydra, the revenue generated by darknet marketplaces from 2019 to 2020 remained roughly unchanged.<\/p>\n<p>Earlier, Chainalysis reported that the share of cryptocurrency transactions related to illicit activity fell to <a href=\"https:\/\/u1f987.com\/en\/news\/chainalysis-volume-of-crime-related-cryptocurrency-transactions-fell-to-10-billion\">to $10 billion<\/a> in 2020.<\/p>\n<p>Through decentralized exchanges (DEX), criminals moved $34 million \u2014 <a href=\"https:\/\/u1f987.com\/en\/news\/chainalysis-share-of-crime-related-transactions-in-dex-turnover-was-0-02\">0.024% of turnover<\/a> during this period (about $144.3 billion).<\/p>\n<p>In September 2020, Chainalysis specialists reported that Eastern Europe <a href=\"https:\/\/u1f987.com\/en\/news\/chainalysis-eastern-europe-leads-darknet-market-activity\">leads in activity<\/a> on darknet markets among other regions of the world.<\/p>\n<p>Subscribe to ForkLog news on Telegram: <a href=\"https:\/\/t.me\/forklogfeed\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">ForkLog Feed<\/a> \u2014 the full news feed, <a href=\"https:\/\/telegram.me\/forklog\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">ForkLog<\/a> \u2014 the most important news and polls.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>In 2020, the total volume of cryptocurrency payments on the darknet amounted to $1.7 billion. The top three by turnover on the darknet were Russia, the United States and Ukraine.<\/p>\n","protected":false},"author":1,"featured_media":35723,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[274,1154,1269,1227,477],"class_list":["post-35722","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-chainalysis","tag-crimes","tag-cryptocurrencies","tag-cryptocurrency-transactions","tag-darknet"],"aioseo_notices":[],"amp_enabled":true,"views":"29","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/35722","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=35722"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/35722\/revisions"}],"predecessor-version":[{"id":35724,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/35722\/revisions\/35724"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/35723"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=35722"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=35722"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=35722"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}