As Crypto Comes Under Increasing Scrutiny, the Darknet Shifts to Monero
In early January, hackers siphoned over $200 million from a crypto wallet and then exchanged some of the proceeds for Monero—a privacy coin designed to make transactions nearly impossible to trace. As crypto becomes more mainstream and authorities become more adept at seizing illicit assets, “privacy coins” like Monero are gaining ground, offering the concept of decentralized digital money that operates outside government oversight. This same quality has also made Monero a favorite tool for criminals seeking traceless “digital cash.”
According to a recent report by TRM Labs, Monero (capitalized at approximately $6 billion) is increasingly dominant on the darknet, particularly for drug transactions, stolen data, and ransomware activity. TRM cited a “structural shift” toward darknet markets exclusively accepting Monero, particularly in regions facing increased law enforcement pressure—a response to the increased traceability of Bitcoin and stablecoins. In fact, nearly half of the darknet markets that emerged in 2025 were reported to be exclusively Monero-based, roughly tripling the share from three years earlier.
Although several major exchanges have delisted Monero, reducing its liquidity, trading has shifted to decentralized platforms with fewer safeguards. This low liquidity can even amplify price spikes when there's sudden buying pressure—for example, when hackers exchange stolen assets for Monero. However, Monero is still not completely "traceless": authorities can still use withdrawal traces from exchanges or other supporting data. In essence, Monero is increasingly becoming a double-edged sword—a symbol of privacy for some in the crypto community, but also a new challenge for global efforts to combat illicit financial flows. (asd)
Source: Newsmaker.id
