Lockdown Life & Darknets: BTC Still the DNM King, Cashaa’s Stolen Coins Sent to Hydra, Cannabis Sales Surge

During the last six months, the Covid-19 outbreak has caused a lot of disarray in the world and one thing is for sure, the use of darknet markets has surged. While the citizens of the globe have been locked down, cannabis sales have skyrocketed and the dollar value of bitcoin transactions done privately has remained over $100 million per month.

Darknet market (DNM) use has exploded during the last six months, especially after the coronavirus outbreak started to rise. Data from The Block Research and 1000x Group shows that bitcoin (BTC) is still the top choice for DNM vendor acceptance.

Block Research analyst Steven Zheng explains in a report published on August 8, 2020, that bitcoin (BTC) captures 98% of the 49 DNMs the researcher surveyed. The surveyed DNMs show that monero (XMR) is the second-most leveraged (45%) crypto accepted on DNMs. Litecoin (LTC) and bitcoin cash (BCH) capture 29% and 12% respectively.

Lockdown Life & Darknets: BTC Still the DNM King, Cashaa's Stolen Coins Sent to Hydra, Cannabis Sales Surge

1000x Group’s data is a touch different as the company’s tracker monitors 15 different DNMs. Most all of the markets accept BTC, except Whitehouse and Monopoly Market, which only accept monero (XMR).

Darkbay, Empire, and Cannazon all accept BTC, but they also support litecoin (LTC) and monero (XMR) transactions.

Similar to Steven Zheng’s data, 1000x Group’s DNM tracker shows that BTC is accepted by a majority of DNM vendors. On August 11, 2020, monero (XMR) captured 65% of DNM vendor acceptance.

Lockdown Life & Darknets: BTC Still the DNM King, Cashaa's Stolen Coins Sent to Hydra, Cannabis Sales Surge
Image via 1000x Group (red monero and blue is litecoin). Out of 15 different tracked DNMs, Vendor acceptance for BTC is near 100%, monero (XMR) vendor acceptance on August 11, 2020, is 65%, and litecoin (LTC) is capturing 26.8% of the vendor data recorded.

Litecoin (LTC) commands 26.8% of vendor acceptance on DNMs according to 1000x Group’s tracker, which measures the cryptos that are accepted as a payment method on the darknet.

On July 11, 2020, the digital currency exchange Cashaa revealed it was hacked for 336 BTC worth $4.3 million at today’s exchange…

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