Dark Web Price Index 2023: Unraveling The Evolving Landscape Of Underground Trade
A password manager helps to secure your online life by generating cryptographically strong and unique passwords for every site that you use, which they then autofill into login pages as you browse. The market leaders are 1Password and LastPass, both of which cost less than $5 a month and have good free versions. Despite the increased availability of personal information on the Dark Web, individuals can still take measures to reduce the risk of being hacked. Your data is valuable to cybercrooks, and it doesn’t cost much to steal your identity or otherwise exploit you.
Understanding the Value of Darknet Markets
However, nearly as soon as Hydra shut down, OMG began seeing high inflows for the first time, more than half of which came from Hydra counterparties. Despite demand for legitimacy, the world of darknet markets is rife with shady characters, scams, and instability. The marketplaces are also a hotbed for cyberattacks, and the threat of law enforcement means they could be shut down at any time. The Silk Road was an online black market where users could buy and sell illicit goods anonymously. It operated via darknets, anonymous networks that can only be accessed through specialized software like Tor Browser. The content of darknets makes up the dark web — Silk Road was the first modern dark web marketplace.
All countries that accounted for 1% or less are aggregated into the category “Other”. While possible shipping destinations are included in the listing data, we did not analyze these as most destinations are listed as “Worldwide” or “Undeclared”, providing only limited information. The distribution of the shipping origins for all products seems to differ from counterfeits. While most products seem to originate from the USA, most counterfeits are from China, including Hong Kong.
However, the takedown of Hydra coincided with a large increase in posts discussing cryptocurrency cash-out and mixers on forums in Flashpoint collections. The number remained high since, suggesting that the conversation (and offers) merely shifted from one type of platform to another. The advertising and discussion of cryptocurrency cashout services and mixers also increased significantly on Telegram, especially in late summer 2022 when the “war of marketplaces” seemed to peak.
The median credit limit on a stolen credit card is 24 times the price of the card. The median account balance of a hacked PayPal account is 32 times the price on the dark web,” Comparitech’s Paul Bischoff wrote. The Dark Web Price Index 2023 report provides a unique glimpse into the evolving landscape of illicit trade on the dark web. Despite law enforcement efforts, the underground economy continues to flourish, with shifting trends in sales volume, data preferences, and prices. Telegram’s emergence as a major facilitator of illegal transactions, along with the fluctuating prices of various goods and services, reflects the dark web’s adaptability and resilience. As the fight against cybercrime intensifies, reports like this offer valuable insights to inform strategies to combat the ever-evolving threats posed by the dark web.
There are many types of malicious tools and services being sold in the darknet markets, some of which we have already shared in part 2 of our cybercrime underground series. Figure 10 below shows a listing on a darknet market for a Ransomware and BTC stealer setup service where a seller provides the tools and also configures it for the buyer. Credentials of many online services which include banking, telco, social media networks and many more are being listen in the darknet markets.
The darknet markets have been a topic of intrigue and concern for many, often overshadowed by myths and misconceptions. One of the most commonly asked questions relates to how much value is on the darknet markets.
The eventual fate of all darknet markets is to be seized, to be hacked, to exit scam, or to voluntarily shut down. It’s most likely that the majority of darknet markets plan to exit scam from their inception, especially as a plan B if things go sideways. After just a few days with no word from market admins, users and one DeepSea forum moderator concluded that the market had exit scammed. As of the writing of this report, it has been one week since the market went offline. It could have been seized instead of exit scammed, but law enforcement has yet to announce the seizure. If the market doesn’t return and law enforcement don’t announce a seizure, it can be concluded that DeapSea has exit scammed.
The researchers found that pump and dump schemes amounted to as much as USD 120 billion in annual crypto volumes. Geolocation-aided analysis found that the US was the leading source of pump and dump, followed by Iran, Iraq, Yemen, Pakistan, Egypt, Saudi Arabia, the United Arab Emirates, Turkey and Russia. Pump and dump schemes involve the coordinated buying of a cryptocurrency or token to inflate its price artificially, followed by a coordinated sell-off once the price has reached a certain level. This results in the price crashing, leaving unsuspecting investors with significant losses. These schemes are often organized through online forums or social media groups and can involve the use of misleading or false information to entice new investors.
Overview of Darknet Markets
Darknet markets function as online platforms often inaccessible through standard web browsers. They are known for facilitating the sale of various illegal goods and services, including:
- Drugs
- Weapons
- Stolen data
- Counterfeit currencies
- Fraudulent services
Estimating the Value on Darknet Markets
- This is likely due to the fact that cryptocurrency prices have been largely stagnating in H and H1 2023, which resulted in less interest shown by the mainstream population.
- As a result, such OTC brokers are vulnerable to abuse by criminals seeking to cash out illegally-derived cryptocurrency.
- Dread offers feedback percentages and ratings like many clear web sites vendors.
- Lastly, we summarized counterfeit prices for each category (Table 7), estimated vendor sales volumes (Table 8 and Fig. 5), and examined the price differences of products offered on darknet markets and the surface web (Table 9, Fig. 6).
- No one really knows the size of the dark web, but most estimates put it at around 5% of the total internet.
Determining how much value is on the darknet markets is challenging due to the secretive nature of these platforms. However, various studies and reports have provided some insights:
- The total market value of darknet sites has been estimated in the billions of dollars.
- In recent years, reports indicated that annual revenue from these markets could exceed $1 billion.
- The average value of transactions has been documented to range from hundreds to thousands of dollars per transaction.
Factors Influencing the Market Value
Several factors contribute to the fluctuating value on darknet markets:
- Supply and Demand: Like any market, prices are influenced by the availability of goods and consumer demand.
- Law Enforcement Crackdowns: Increased activity from authorities can disrupt operations, impacting overall market value.
- Cryptocurrency Fluctuations: Since most transactions occur using crypto, the value of currencies like Bitcoin can heavily influence market prices.
- Market Trends: New drug or product trends can spike demand, leading to higher prices.
Types of Products and Their Values
Within the darknet, various products have known average prices:
- Heroin: $100 – $200 per gram
- Cocaine: $70 – $150 per gram
- Stolen credit card details: $5 – $10 each
- Hacking services for DDoS attacks: $30 – $300
FAQs about Darknet Market Values
1. Are all darknet market items illegal?
Yes, most items sold on darknet markets are illegal, ranging from narcotics to hacking services.
2. How are prices determined on these markets?
Prices are primarily influenced by factors such as demand, supply, and competition among sellers.
3. Is it safe to purchase items from darknet markets?
No, purchasing items from darknet markets carries high risks, including legal consequences and potential scams.
4. How has the recent crackdown on illegal activities impacted market value?
Law enforcement activities often lead to instability, resulting in temporary price fluctuations and reduced availability of certain products.
Conclusion
The question of how much value is on the darknet markets reflects a complex interplay of factors that contribute to the overall financial ecosystem of these illicit platforms. While estimates suggest that the darknet market holds substantial value, its volatile nature and legal implications present significant risks for those involved.
