Russia’s Darknet Market Booms While Global Crypto Sales Decline

Despite a global decrease in darknet crypto transactions, Russia’s Kraken market experienced a significant surge, increasing by 68% year-over-year, according to Chainalysis. The platform has become the leading darknet market by revenue since Hydra’s closure in 2022. Global darknet sales fell by double digits in 2024, primarily due to law enforcement efforts targeting these markets. 2024 saw a total decline of 15%, however, Russia’s Kraken remained resilient and saw growth despite this trend.