As the name denotes darknet market resembles to black market. Black marketing involves buying or selling of unlicensed goods or the unauthorized materials like weapons, guns, drugs or medicines which are stolen or not government listed. Money which is used in these markets is also black money as stolen cards or crypto currency as this does not involve any proof or paper regarding these transactions. It includes illegal drugs and steroids supplied with the help of counterfeit currency. These markets also include hackers for financial benefits and all types of cyber crimes like bank or private data leaking or hacking their personal accounts for blackmailing, financial frauds and cyber crimes for illegal activities. Brokers use stolen credit cards or unofficial accounts for their transactions in these markets and they also sell bank details and important documents like cards or key codes to other buyers and get a high price for it. So the darknet market involves all the illegal and unlicensed fraud events investing black money all over the world in these black markets.
You can see suppliers and buyers of drugs and steroids like cocaine, modafinil and many more in these markets at a very vast level as well as they sell alcoholic beverages too illegally. There is also sex trafficking that occurs on darknet markets. Popular adult sites like PornHub and some of the best hookup apps including Tinder and Fuckbook (seen here) have funded and supported efforts to fight these illegal activities and promote safe and consensual casual sex via their platforms. This is especially important for these adult companies to separate themselves from these illegal and unethical darknet markets. As they are not centralized so many frauds and scam cases are being reported on darknet markets.
Payments and Scams:
When people search for these markets, they get a referral link to register with them and then they can log in with some initial information and browse the material list. If they are making any trading transactions or buying something then they have to enter a PIN for making payments online so that they can get secured transactions. Most of the markets are using their forums and working procedure in English language but nowadays there are markets which are also working in Russian and Chinese languages. Some darknet markets also allow direct registration without any reference link or log in ID. Some of the news and media services sites give active information about these sites. These markets have transactions in cryptocurrencies like Bitcoin etc for making decentralized transmissions because they don’t need any proof or legal authentication. When a user is interested in buying something via these markets then first after login and browsing he can send the money in the form of cryptocurrency to these online sites of black marketing. After that the vendor from which the good is being sold to the buyer can take his payment from these sites. So in short both buyer and vendor do the money transfer via the site. These transactions may be receipt or may be non receipt, according to the terms of the vendors. But there are many fraud cases being reported as per by the vendors and buyers too and due to minimal law actions they continue to make non secured trading business because if they are dealing in drugs, alcohol or weapons supplying then legally they can not do these transactions so instant and conveniently and that’s why with the help of cryptocurrency they make these decentralized tradings very instantly. Often vendors sell stolen goods and cyber data too by adding double or triple profit for them and people whose data is being stolen, have to buy that from the vendors for securing their personal information to be leaked and this leads into making scams and frauds to the buyers.
They are not safe at all as many legal authorities have a keen eye on these markets and most of the transactions are unauthorized. When the illegal activities with some of the unlicensed materials are being held at a place, then it would be never safe to make money transactions in these markets. Most of the drug and alcohol mafias make money transfers in these markets to hide their black money and make the money investments unauthorized to remain safe from the eyes of the government and crime branch or FBI like legal agencies. So most of the illegal communities invest in them which don’t have a good background. As these transactions are anonymized, they are being done by Bitcoin mostly, via which buyers and vendors save it into the dark wallet to make it a safe and protective deal, however these deals mostly encourage scams that are not legally protected.
So, these markets are mostly involved in cryptomarketing of illegal and illicit products.