Collective dynamics of dark web marketplaces
Dark web marketplaces are websites that facilitate trade in illicit goods, mainly using Bitcoin. Since dark web marketplaces are unregulated, they do not offer any user protection, so police raids and scams regularly cause large losses to marketplace participants. However, the uncertainty has not pr...
| Main Authors: | , , , , , |
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| Format: | Journal article |
| Language: | English |
| Published: |
Springer Nature
2020
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| _version_ | 1797063728399646720 |
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| author | ElBahrawy, A Alessandretti, L Rusnac, L Goldsmith, D Teytelboym, A Baronchelli, A |
| author_facet | ElBahrawy, A Alessandretti, L Rusnac, L Goldsmith, D Teytelboym, A Baronchelli, A |
| author_sort | ElBahrawy, A |
| collection | OXFORD |
| description | Dark web marketplaces are websites that facilitate trade in illicit goods, mainly using Bitcoin. Since dark web marketplaces are unregulated, they do not offer any user protection, so police raids and scams regularly cause large losses to marketplace participants. However, the uncertainty has not prevented the proliferation of dark web marketplaces. Here, we investigate how the dark web marketplace ecosystem reorganises itself following marketplace closures. We analyse 24 separate episodes of unexpected marketplace closure by inspecting 133 million Bitcoin transactions among 38 million users. We focus on “migrating users” who move their trading activity to a different marketplace after a closure. We find that most migrating users continue their trading activity on a single coexisting marketplace, typically the one with the highest trading volume. User migration is swift and trading volumes of migrating users recover quickly. Thus, although individual marketplaces might appear fragile, coordinated user migration guarantees overall systemic resilience. |
| first_indexed | 2024-03-06T21:04:04Z |
| format | Journal article |
| id | oxford-uuid:3bdf6117-9849-4948-92e4-33bc525b6223 |
| institution | University of Oxford |
| language | English |
| last_indexed | 2024-03-06T21:04:04Z |
| publishDate | 2020 |
| publisher | Springer Nature |
| record_format | dspace |
| spelling | oxford-uuid:3bdf6117-9849-4948-92e4-33bc525b62232022-03-26T14:10:02ZCollective dynamics of dark web marketplacesJournal articlehttp://purl.org/coar/resource_type/c_dcae04bcuuid:3bdf6117-9849-4948-92e4-33bc525b6223EnglishSymplectic ElementsSpringer Nature2020ElBahrawy, AAlessandretti, LRusnac, LGoldsmith, DTeytelboym, ABaronchelli, ADark web marketplaces are websites that facilitate trade in illicit goods, mainly using Bitcoin. Since dark web marketplaces are unregulated, they do not offer any user protection, so police raids and scams regularly cause large losses to marketplace participants. However, the uncertainty has not prevented the proliferation of dark web marketplaces. Here, we investigate how the dark web marketplace ecosystem reorganises itself following marketplace closures. We analyse 24 separate episodes of unexpected marketplace closure by inspecting 133 million Bitcoin transactions among 38 million users. We focus on “migrating users” who move their trading activity to a different marketplace after a closure. We find that most migrating users continue their trading activity on a single coexisting marketplace, typically the one with the highest trading volume. User migration is swift and trading volumes of migrating users recover quickly. Thus, although individual marketplaces might appear fragile, coordinated user migration guarantees overall systemic resilience. |
| spellingShingle | ElBahrawy, A Alessandretti, L Rusnac, L Goldsmith, D Teytelboym, A Baronchelli, A Collective dynamics of dark web marketplaces |
| title | Collective dynamics of dark web marketplaces |
| title_full | Collective dynamics of dark web marketplaces |
| title_fullStr | Collective dynamics of dark web marketplaces |
| title_full_unstemmed | Collective dynamics of dark web marketplaces |
| title_short | Collective dynamics of dark web marketplaces |
| title_sort | collective dynamics of dark web marketplaces |
| work_keys_str_mv | AT elbahrawya collectivedynamicsofdarkwebmarketplaces AT alessandrettil collectivedynamicsofdarkwebmarketplaces AT rusnacl collectivedynamicsofdarkwebmarketplaces AT goldsmithd collectivedynamicsofdarkwebmarketplaces AT teytelboyma collectivedynamicsofdarkwebmarketplaces AT baronchellia collectivedynamicsofdarkwebmarketplaces |