The Dark web and Bitcoin

What is dark web? 

Dark Web is almost an anonymous virtual environment of the Internet where websites are distributed and accessed with privacy and anonymity and the data exchange is protected by highly complicated encryption.  The dark web is an internet component that is not available to search engines and involves the use of a “ToR” anonymous browser. Using the “ToR” browser protects against the so-called "traffic analysis" form of Internet surveillance. No one knows the size of the dark web, but most reports say that the web is about 6%. Again, despite its sinister name, not every everything on the dark web is used for illegal purposes. 

Criminal activities related to the dark web 

Crimes of the greatest variety are linked to Dark Web use, such as personal data trade, various tutorials (homemade bombs, homemade poisons, etc.), fake documents, , films such as actual murder films, human trafficking, drug-trafficking, terrorism, the trafficking of human organs, money laundering, etc. The anonymity and the difficulty of seeing the author prevent the absolute evidence that all that is practiced via this communication channel is real. 

The lack of accountability is common in a world where anonymity prevails. The Dark Web is a hostile environment in which caution is the greatest rule of survival. In this respect, Hackers and cybercriminals sit comfortably on sofas, hidden by strata and further security layers waiting patiently for innocent users to supply personal data and card numbers to fraudulent who sell the information to other parties. That is why the currencies in the Dark Web are virtual rather than conventional.  

Bitcoin (BTC and XBT) is the most popular and most common cryptocurrency in the world and therefore it is the official currency of Dark web. 

The risk of money laundering 

Money laundering is a current topic and its use for criminal activity is imperative, so both Dark Web and Bitcoin are extremely appropriate tools to facilitate its use. When Bitcoin is used properly in the Dark Web environment, anonymity is absolutely essential since it makes tracing the origin extremely difficult. 

The only possible surveillance of Bitcoins seems to be validating the legitimacy of transactions that threaten their very existence. There is no other oversight– not of public knowledge, at least. So, even though regulations exist, how can a currency easy and quick to circulate around the globe, that built up in ideology contrary to state control, be affected? 

Legislation of Bitcoin-Cryptocurrency 

Bitcoin's (and related crypto instruments) legal status varies largely state-by-state and in many cases is still undefined or changing. While the use of bitcoin itself is not illegal in the majority of countries, its status as money (or commodity) is different and has differing legal implications. Although some countries explicitly permitted their use and trade, others prohibited or restricted it. Due to various concerns about financial crimes and hacking, banks are not allowed to trade in bitcoin in Qatar. Furthermore, the Qatar Financial Center Regulatory Authority (QFCRA) prohibits cryptocurrency. Government officials express their concern about money laundering as a way to stop the activities of cryptocurrency from happening. 

QFCRA stated that all cryptocurrencies services in the exclusive economic zone are now illegal. Critical components of the market are listed specifically in the report. The components are crypto to crypto transactions and crypto to fiat trade. In addition, the report lists virtual asset services directly, including services that facilitate the trade, custody and delivery of virtual assets. 

Final words 

Without additional security precautions, we do not suggest visiting the dark web from your home or business network. Be mindful that sites on the dark web may not seem what you are looking for and it's common for phishing attacks to be found on the dark web as well as 'tricking' people to click grotesquely disturbing images. Any computer that has internet access is susceptible to Dark Web data loss and malware. To ensure that you are safe against these new data collection methods, make sure your solution contains preventive measures for prevention of data loss and identity theft on the Dark Web. Many online security services now include security identity protection.