Binance, a crypto exchange, is completely centralized, meaning that any balances that anyone has with Binance are stored on a central database that Binance controls, rather than on a permissionless blockchain. Uruguay is Argentina’s much more economically free neighbor, and it doesn’t have restrictions on USD, so there has been a large flow of dollars across the river between the two countries. From talking to locals, it sounds like this is still rare, in part because both sides of the transaction have to agree to doing it in crypto. It also requires a high level of technical comfort, user experience is poor, and volatility is high. When most people think of crypto, they tend to think of bitcoin (BTC) and Ethereum (ETH).
Security Upgrades
Ten years ago, the best place to exchange cash in Buenos Aires was Calle Florida, a long shopping street where you’d struggle to take more than a few steps without someone stopping you and saying “cambio? ” That would involve following a strange man into a dark alley to pass wads of money between you— no comfortable desk, no bill counter machine, no hope of ever finding this person again if he decided to rip you off. With this exchange, your money goes 3x farther in Argentina and you are STILL paying the locals the same amount of pesos. In all cases, the relationships between different groups—of alliance or competition—are also opportunistic and vary over time.
Argentina’s Informal Exchange Rate
In exploring the top 10 dark-web marketplaces in 2025, we’ve examined their core operations, diverse use-cases, inherent risks, and evolving trends. While these marketplaces continue to serve legitimate purposes, such as enabling secure communication and privacy protection, they also remain hotspots for illicit activities and cybercrime. Technological advancements like AI-driven security, quantum-resistant encryption, and blockchain integration are reshaping the landscape, but simultaneously, global enforcement efforts grow more sophisticated and collaborative.
The Dangers Of Darknet Marketplaces
By relying on encryption, pseudo-anonymous currencies, and network-level anonymity, they create a false sense of safety, drawing in both buyers and sellers. From drug sales and breached data to scam services and malware, dark web markets are some of the most dangerous corners of the internet. These markets mimic traditional e-commerce websites, but instead of second-hand books or vintage jackets, they traffic in illegal goods and criminal services. In addition to these tools, the market offers access to compromised accounts, VPN services, and digital identities, making it a hub for individuals involved in illegal activities like hacking, identity theft, and other forms of cybercrime. Much like familiar e-commerce platforms, dark web marketplaces are organized to offer a smooth buying and selling experience. However, they aren’t visible on the open internet and require specialized browsers like Tor to access.
Mission Impossible: Landing An American Dollar
- Since 2020, 2easy has sold massive stealer logs with sensitive data like passwords, bank cards, and initial access credentials.
- We believe there is the potential for consumer spending to bounce back in 2021 and we are forecasting real household spending to expand by 10.4% y-o-y.
- Enthusiasts talk all about how important decentralization is, and given their unfortunate financial history, Argentinians more than most should appreciate those benefits.
- Additionally, artificial intelligence tools are increasingly being used to manage transactions, vet vendors, and enhance user security—automating dispute resolution, escrow processes, and reputation systems to build trust and streamline operations.
- Established in 2019, Russian Market is a well-known and highly regarded data store on the dark web, specializing in the sale of PII and various forms of stolen data.
These are communities stretched across dark and surface web forums which develop shared tutorials and help one another adapt to any new changes. These closures bind users together and foster a shared resilience and collective experience in navigating these environments. The concept of darknets emerged as a response to concerns about digital privacy and government surveillance. One of the most well-known technologies enabling darknets is the Tor network, which was developed by the U.S. Tor, short for “The Onion Router,” routes internet traffic through a global network of volunteer-operated servers to anonymize a user’s online activity.
Impact On Businesses And Cybersecurity
This work is happening in North America and Canada, Asia, Africa and the Middle East, Latin America, and Europe. Understanding that human trafficking operates fundamentally as an economic crime helps break the cycle. Studies demonstrate that regions maintaining robust economic opportunities and strong labor protections experience up to 63% fewer trafficking cases (UN Global Initiative to Fight Human Trafficking UN.GIFT, 2023). Successful anti-trafficking efforts combine economic empowerment with stringent law enforcement. Traffickers have developed sophisticated business models that generate an estimated $21,800 per victim annually in developed economies (Financial Action Task Force FATF, Trafficking Profit Analysis, 2023). These criminal organizations operate through complex networks spanning continents, using modern technology and financial systems to maximize profits while minimizing detection risks.
All 50 U.S. states now report trafficking cases, leading to enhanced awareness and response capabilities. The fight against trafficking requires continuous vigilance and adaptation to evolving criminal tactics. The illegal industry now generates $172.6 billion from forced commercial sexual exploitation annually (ILO, 2024). Current estimates show traffickers hold 49.6 million people in modern slavery worldwide, including 12 million children (ILO and United Nations, 2024). Unless I’m missing something, cuevas’ use of Binance seems very short-sighted, especially to store their reserves. My best guess of what’s going on is that they still haven’t learned all of the gotchas involved with crypto, simply because it’s so early.
Encryption And Security
Journalists use the dark web to communicate with sources anonymously, and whistleblowers rely on it to share sensitive information without fear of retaliation. This commentary is published by BMI, a Fitch Solutions company, and is not a comment on Fitch Ratings Credit Ratings. Any comments or data included in the report are solely derived from BMI and independent sources. We forecast nominal spending on food and non-alcoholic drinks to expand by 50.9% y-o-y, stronger than the the 46.7% y-o-y estimated for 2019. The Covid-19 pandemic will accelerate the development of e-grocery in Argentina, where strict lockdown measures were introduced on March.
Abacus Market stands out with 35,000+ listings and $5 million in monthly cryptocurrency trades via Bitcoin (BTC) and Monero (XMR). Serving 15,000+ users and 1,200+ vendors, it holds an 8% share of darknet drug trading. Known for its robust escrow security and diverse offerings, Abacus is a top choice for 2025. Dark Web marketplaces pose a serious cybersecurity risk to businesses, facilitating the sale of stolen credentials, financial data, and corporate secrets. The increasing sophistication of cybercriminals underscores the importance of proactive security measures, including Dark Web monitoring, cybersecurity risk assessments, and security gap analysis. Ignoring these risks can lead to financial losses, reputational damage, and regulatory penalties.
Regulatory relaxations in certain regions and the growth of e-commerce channels have also contributed to the accessibility and visibility of dark spirits, thus propelling market growth. Valued at approximately $15 million, Abacus Market is one of the most lucrative platforms in the dark web ecosystem. In 2024, the platform grew significantly in popularity, partly because of its strategic acquisition of users from a number of recently shut-down marketplaces, such as AlphaBay and Incognito Market, which had recently closed their doors. The permeability of the formal border crossings in the TBA, especially between Brazil and Paraguay, are but a minor illustration of how incredibly porous the informal crossings are. The frontier, especially along the Paraná River and the Itaipú dam reservoir, is densely forested and dotted with innumerable inlets which house countless clandestine ports and lookouts, often operating in plain sight of the authorities from both countries.
To illustrate, hitting up an ATM and withdrawing the equivalent of $100 USD would fetch you approximately 600 ARS. Comparably, this same $100 on the Black Market nearly doubles your pesos to 1,000 ARS. In fact, Argentina’s Central bank has lost US$ 9 billion from their international reserves since the beginning of the year. In all likelihood, the cabs are filled with clients just like you and me – all heading to an appointment at the Informal Bank of Argentina.
Users face vulnerabilities like market volatility, scams involving fake escrow services, compromised wallets, or theft through phishing schemes targeting crypto transactions. Furthermore, inexperienced users unfamiliar with secure cryptocurrency practices are particularly susceptible to these threats, risking the loss of their entire funds. On the Black market, locals accept a much worse exchange rate in order to discard of their pesos; often trading for half of what Argentina’s government indicates they are worth. But why would they swarm illegal channels to trade pesos for way above the official exchange rate?
Illicit flows in the region are also facilitated by the presence of an extremely complex enabling environment. The result is that the hub suffers from higher-than-average levels of violence, including homicides, and the consequences of this criminality ripple outwards across the region. Finally, our research also clearly demonstrated that Paraguay, with its hugely permissive security and legislative environment, functions as the linchpin for much of the illicit trade in this hub.
Yet there I was, in the bowels of a shop on Calle Florida in downtown Buenos Aires, sweating in the 95-degree heat along with local Argentines and other tourists, patiently waiting to pick up cash I had forwarded to myself from the U.S. Piccirillo was arrested for allegedly planting a 0.9mm-calibre pistol and more than a kilo of cocaine in the car of Fráncisco Hauque, another shady character who was arrested for alleged possession of narcotics and firearms upon their discovery.
Silk Road, AlphaBay, WallStreet and Monopoly Market are all familiar names in the digital graveyard of the dark web. Before these dark web marketplaces were shut down, they sold a range of illegal products, from drugs to firearms. You can legally browse darknet sites for legitimate purposes like research or privacy protection. However, engaging in illegal activities on the darknet is against the law and can result in serious criminal charges. If you access illegal content or participate in criminal transactions, you face legal consequences. The legality depends on your activities and your country’s specific laws regarding darknet use.
