Cryptomarkets’ Phenomenon: A Conceptualization Approach
Randa Basheer · Human Behavior and Emerging Technologies · 2022
In the last two decades, the Dark Web has become the perfect resort for various illicit activities. Cryptomarkets are widespread platforms in the cyberspace of the Dark Web where participants trade for illegal gaining. In this article, we present a conceptualization approach of cryptomarkets based on several recent studies on the phenomenon. We attempt to conceptualize cryptomarkets in technical and social aspects to introduce an understanding of their operating mechanisms and the robustness of their communities. We demonstrate the concept of the Satisfaction Factor that attracts individuals to cryptomarkets. Furthermore, we discuss the importance of forums to members of cryptomarkets as technical and social supportive platforms. The article also includes a comparison of cryptomarkets and conventional trading networks and discusses the efforts of law enforcement agencies and their effects in disrupting cryptomarkets. Moreover, we discuss the need for further researches.