Obtaining access to an individual’s private data on sale in the darknet is very common. In August 2018, prominent Chinese hospitality chain, Huazhu Hotels Group fell into the hands of hackers. Personal data of more than 130 million hotel guests was sold at 8 BTC which was approximately $56,000 by then.

Recently, OkCoin’s Founder, Star Xu became a victim as well when his personal information was discovered in an ad. According to a Chinese news outlet, the advert originated from a vendor who goes by the alias “darrenchen.” The vendor claimed that the information he was selling comprised of Star’s family, the OKCoin exchange and his private credentials.

It is purported that the info is being sold for 0.00029 BTC. At the moment, BTC is trading at slightly above $3,430, meaning that someone must have paid only about $1 to access the said information.

While it’s still not clear as to whether anybody parted with $1 to obtain Star Xu’s private data, some people were quick to point out that the amount is too small for such kind of info. As of now, no one has come out with information revealing this malicious attempt. This could indicate that the seller is a fraud and most likely he is attempting to scam vulnerable users on the dark web.

Such kind of illegal data is available on underground illegal markets and is accessible using special software such as the Tor browser. In these websites, malevolent vendors trade illegal goods and services such as weapons, drugs, or smuggled goods.

Data from Blockchain Technology Research Firm, Chainalysis, shows that Bitcoin use on the darknet is on the increase. According to the research company, even with the crypto bear market and more private options like Zcash (ZEC) and Monero (XMR) networks which are anonymity-centric, Bitcoin has recorded high transaction volumes.

Last year, Chainalysis revealed that the flagship digital currency transacted close to $600 million on the underground market, $100 million less as equated to 2017. The drop was particularly linked to the shutdown of large online dark net markets like Hansa and AlphaBay which operated on the Thor network.

Immediately after doing away with Hansa, the Dutch authorities were quick to open up a page on the darkweb notifying users that they already are aware and are keen on such activities.

A high-ranking economist at Chainalysis, Kim Grauer told Reuters that controlling the dark web is quite a challenge because when one market closes another one mushrooms in its place.

Generally, dark markets will continue to thrive since participants simply move to other platforms and technologies after a shutdown.

It is interesting to note that, Bitcoin still remains as the first crypto of choice of cybercriminals to conduct their fraudulent activities. Moreover, bitcoin price fluctuation is not an issue when it comes to people wanting to make purchases on the darknet web.

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