The dark web – also known as the deep web – was where Bitcoin transactions originally came to life as an alternative to paying shady people with your credit card. On the dark web, there are no rules as to what you can or cannot buy, and this is why cryptocurrencies originally had such a bad reputation. Due to the rather illegal nature of the stores on the dark web, the FBI keeps close tabs on such sites and what they sell.
Unfortunately for many crypto lovers, the FBI has just taken down the popular site called Deep Dot Web. The site allowed dark web marketplaces to place referral links in exchange for payment in crypto. Deep Dot Web served as a popular gateway for many people to gain access to hidden marketplaces.
Dark Web Facilitating Illegal Activity
If your heart desires it, you can usually buy it from the dark web – in crypto of course. One man from Scotland decided to try out the dark web for the first time and ordered a 9mm handgun, magazine, 150 rounds of ammunition, and a suppressor – just to see if he could. The name then paid for his new toys using Bitcoin and police followed the package to his door. As soon as the man took the package inside, police busted down the door and arrested the man – a bit of a harsh punishment, considering you can pick these items up at your local Walmart in the US.
The Dark Web Bitcoin Drug Lords
The dark web is home to some of the biggest drug lords since Pablo Escobar. A pile of Bitcoin worth an estimated $1.4 million has been confiscated from one dark web drug lord after a court ordered the man to forfeit all the proceeds from his dark web drug empire. However, the Canadian authorities left the man with 7.23 BTC – a man has got to eat, right? If that wasn’t enough, a nurse who was caught selling prescription drugs on the dark web for Bitcoin under the name of Farmacy41, bagging just shy of $350,000 in the process. Despite the illegal nature of her drug empire, Farmacy41 had an impressive five-star rating across more than 1,000 sales.
The dark web Bitcoin crackdowns all kicked off then the FBI took down Silk Road founder, Ross Ulbricht. Since then, the FBI and other government agencies have shut down hundreds of dark web stores and confiscated millions in various cryptos. It’s a sad day for libertarianism, but it’s helping clean up crypto’s image in preparation for mass adoption. Keep up the good work FBI, but just leave us a few places to get our Christmas presents!