TY - JOUR
T1 - Measuring dark web marketplaces via Bitcoin transactions
T2 - From birth to independence
AU - Hiramoto, Naoki
AU - Tsuchiya, Yoichi
N1 - Funding Information:
This study received financial support from the Telecommunications Advancement Foundation (Research Grant 2019 ).
Publisher Copyright:
© 2020 Elsevier Ltd
PY - 2020/12
Y1 - 2020/12
N2 - This study measures the evolution of the anonymous marketplaces Silk Road, Silk Road 2.0, Agora, Evolution, Nucleus, Abraxas, and AlphaBay, which were the seven leading and most active dark web marketplaces. We identify that all the seven marketplaces use the same software to manage Bitcoin by investigating transactions in these marketplaces. However, the software was no longer used since May 2016 because of its vulnerability to protect anonymity. It indicates that dark web marketplaces advanced to the next stage with anonymity-enhancing tools around in March 2016. Using simple heuristics to identify and trace Bitcoin addresses associated with these marketplaces, purchases on these marketplaces are identified and evaluated. Our method provides evidence on market size, development, and fluctuation over time to fill a gap in previous studies. Dark web marketplaces continue to thrive because users migrate to new marketplaces after the existing ones are shut down. The total sales volume on Silk Road was 192.7 million US dollars between June 2012 and October 2013. The corresponding figures for Silk Road 2.0, Agora, Evolution, Nucleus, and Abraxas were 112.9, 220.7, 69.7, 88.3, and 35.6 million US dollars, respectively. The figures for AlphaBay was 166.0 million US dollars between December 2014 and February 2016.
AB - This study measures the evolution of the anonymous marketplaces Silk Road, Silk Road 2.0, Agora, Evolution, Nucleus, Abraxas, and AlphaBay, which were the seven leading and most active dark web marketplaces. We identify that all the seven marketplaces use the same software to manage Bitcoin by investigating transactions in these marketplaces. However, the software was no longer used since May 2016 because of its vulnerability to protect anonymity. It indicates that dark web marketplaces advanced to the next stage with anonymity-enhancing tools around in March 2016. Using simple heuristics to identify and trace Bitcoin addresses associated with these marketplaces, purchases on these marketplaces are identified and evaluated. Our method provides evidence on market size, development, and fluctuation over time to fill a gap in previous studies. Dark web marketplaces continue to thrive because users migrate to new marketplaces after the existing ones are shut down. The total sales volume on Silk Road was 192.7 million US dollars between June 2012 and October 2013. The corresponding figures for Silk Road 2.0, Agora, Evolution, Nucleus, and Abraxas were 112.9, 220.7, 69.7, 88.3, and 35.6 million US dollars, respectively. The figures for AlphaBay was 166.0 million US dollars between December 2014 and February 2016.
KW - Crypto currency
KW - Crypto market
KW - Cybercriminal
KW - Drug economy
UR - http://www.scopus.com/inward/record.url?scp=85098139867&partnerID=8YFLogxK
UR - http://www.scopus.com/inward/citedby.url?scp=85098139867&partnerID=8YFLogxK
U2 - 10.1016/j.fsidi.2020.301086
DO - 10.1016/j.fsidi.2020.301086
M3 - Article
AN - SCOPUS:85098139867
SN - 2666-2825
VL - 35
JO - Forensic Science International: Digital Investigation
JF - Forensic Science International: Digital Investigation
M1 - 301086
ER -