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A cryptomarket is an online marketplace platform bringing together multiple vendors and listing mostly illegal and illicit goods and services for sale. Cryptomarkets have the same look and feel as surface web, or ‘clearweb’, marketplaces such as eBay and Amazon, and they allow their customers to search and compare products and vendors. What differentiates these markets from established clearweb marketplaces, however, is that they offer anonymity. Cryptomarkets employ a range of strategies to hide the identities of their participants, make transactions anonymous and conceal the physical locations of servers. These include anonymisation services, such as Tor (The Onion Router), that hide a computer’s IP address when accessing the site (see Chapter 3); decentralised and relatively untraceable cryptocurrencies, such as bitcoin and litecoin, for making payments; and encrypted communication between market participants. Like some others (e.g. Barratt, 2012; Martin, 2013) we employ the term ‘cryptomarkets’, following early use of this term in hacker forums, but we note that the term ‘dark net markets’ is also gaining currency (e.g. Buxton and Bingham, 2015).

Cryptomarkets and the future of illicit drug markets