According to research, Eastern Europe contributes the most crypto to the dark web and also provides the most online traffic to fraudulent sites.
According to a report by crypto analytics firm Chainalysis, dark net marketplaces established a new sales record in 2020, with $1.7 billion worth of cryptocurrencies.
According to Chainalysis, Eastern Europe accounted for the majority of digital currency transaction on the dark web, which is aided by Hydra Market, the largest darknet market of the world, which serves Russian speakers only in Eastern Europe.
Eastern Europe, according to the report, “by a considerable margin” delivers the greatest online traffic to scam websites in the 12 months leading up to July 2021.
“When we drill down to the nation level, we discover that Ukraine is responsible for the majority of this activity, sending more online traffic to the scam websites than rest of the country, more than double the entire web visits of the second-categorised country,” the letter continued.
Finiko was a Ponzi scam located in Russia that collapsed in July 2021, leaving customers unable to withdraw cash.
Investors were promised monthly profits of 30%.
IlgizShakirov, the company’s vice president, was recently detained in Kazan, the capital of Russia’s Tatarstan province.
Finiko, according to Chainalysis, collected approximately $1.5 billion in bitcoin between December 2019 and August 2021, with investors guaranteed monthly returns of 30% on ethereum and tether investments.