Categories: CryptoNews

UK Darknet Drug Sales Bring In 15m EUR Per Month

The deep web is often associated with drug trafficking and Bitcoin payments. Several countries around the world are cracking down on this illegal activity, albeit that is much easier said than done. Britain has the world’s second-highest online drug use, most of which stems forth from darknet marketplaces. In fact, all transactions add up to 150 million euros per month.

Darknet Customers Reside Primarily In The UK

Underground online marketplaces connect buyers and vendors from all over the world. For some reason, there is a booming drug market in the UK, as a ton of narcotics is being purchased online as of late. Although the study only collected data over a four-week period, the numbers are staggering, to say the least.

Vendors in the UK, all of whom reside on darknet marketplaces, represent 16% of all online drug trades.  This means Britain ranks second-highest in the world, only behind the United States. In fact, RAND Europe discovered 338 British darknet vendors have a listing for drugs on these marketplaces, and they complete over 20,000 transactions per month.

Based on the average amount per transaction, each vendor rakes in 5,100 euros on a monthly basis. That is a lot better than any legal job will ever offer. At the same time, this also poses the question as to how RAND Europe can label these vendors as UK residents since most people rely on anonymity software such as Tor.

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Offline drug sales are still the biggest culprit, with their 1.7 billion euro market value. However, the switch to online happening slowly but surely. Although 15 million euro per month pales in comparison to the other numbers, more and more vendors see the benefit of remaining anonymous and not having to deal with person-to-person transactions.

Interestingly enough, the majority of drug buyers are young, and most of them are English-speaking males with “top notch” computer skills. Marijuana is the most popular drug being sold these days, followed by cocaine, speed, and ecstasy. Most of the deals are intended for resale, given their value and quantity of items ordered.

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JP Buntinx

JP Buntinx is a FinTech and Bitcoin enthusiast living in Belgium. His passion for finance and technology made him one of the world's leading freelance Bitcoin writers, and he aims to achieve the same level of respect in the FinTech sector.

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