Significantly high use of the digital currency Dogecoin in the “dark web”
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Answer Significantly high use of the digital currency Dogecoin in the “dark web”
According to the report posted by Recently, Elliptic, a company that specializes in cryptocurrency data and transactions, Dogecoin, the largest meme cryptocurrency, has gained widespread momentum on the dark web.
London-based Elliptic discovered millions of dollars in Dogecoin transactions linked to illegal activities, and also told that Dogecoin cryptocurrency is widely accepted in some popular darknet marketplaces that offer the possibility of buying drugs and stolen data.
Criminals started using Dogecoin soon after it was created in 2013.
In 2014, there was a way to speed up the spread of the currency with a Silk Road-like store called Doge Road.
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But the shop didn’t last after the defunct market owner ran off with other people’s money soon after it was set up.
Dogecoin, which was created as a parody of Bitcoin, has become more popular among users, especially after it was recently and aggressively marketed by Tesla founder Elon Musk.
The rise in the value of cryptocurrencies has been accompanied by a huge rise in scams that have become countless and “Ponzi” scams that revolve around cryptocurrency meme.
According to Elliptic, Dogecoin has been used in various malicious campaigns over the past few years.
As for Dogecoin’s price performance, its price is down an astonishing 91.39% from its all-time high, but the coin is still among the top 10 cryptocurrencies in the world.
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