Chainalysis Report Proves Bitcoin Flourishing on the Dark Web

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Bitcoin Flourish: All of the Cryptocurrency markets are mostly associated with the crime as they possess the ability to assist in retaining the anonymity. Inspite of the recent tumbles in the value and the regulator made attempts to rein the Cryptocurrency activity, a new report that has been lately published by the Chainalysis claims that Bitcoin is still flourishing on the dark web.

It cannot be denied that the dark web and the various forms of Cryptocurrency will always be interlinked with each other due to the ecosystems of the dark web markets that extensively use Bitcoin and altcoins for all types of trades. Inspite of the take down of a few of the darknet markets, the law enforcement and the government continue to go against the Cryptocurrency like Bitcoin claiming that the cybercriminals still uses Bitcoin as their primary tool for trades. One of the notable economists, Nouriel Rouini testified before a U.S. Senate Committee attempting to argue that the total Cryptocurrency space was filled with frauds, scammers and similar individuals.

The Chainalysis is a very much popular name in the world of Cryptocurrency markets and focuses on becoming the leading solution for both investigative and compliance issues in the sector. Chainalysis was working with global law enforcement agencies and has recently partnered with the world’s largest Cryptocurrency exchange by daily volume, Binance. In their recent report, they have stated that despite the constant effort of both law enforcement and regulators, Bitcoin is still thriving on the dark web (Bitcoin Flourish). Law enforcements have taken every step to shut down the marketplaces that allows the criminal activities. But due to the fact of the markets that they are resilient, as soon as one marketplace is taken down, many other crops up on the same platform making it highly difficult for the law enforcement to curb them.

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