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How Online Black Markets Work

Posted by Soulskill on from the probably-better-than-most-real-markets-these-days dept.

CWmike writes "The internet is no stranger to crime, writes corporate investigator Brandon Gregg. From counterfeit and stolen products, to illegal drugs, stolen identities and weapons, nearly anything can be purchased online with a few clicks of the mouse. The online black market not only can be accessed by anyone with an Internet connection, but the whole process of ordering illicit goods and services is alarmingly easy and anonymous, with multiple marketplaces to buy or sell anything you want. Gregg started with $1000 and a took journey into the darker side of the Internet using two tools: Bitcoin and the Tor Bundle."

8 of 98 comments (clear)

  1. And how many times would you get ripped off? by crazyjj · · Score: 5, Interesting

    The authors, no doubt to avoid legal troubles, never actually go through with any transactions. But I would be very curious to know how many scammers are on these sites (not like you could report them to the cops if they didn't deliver). I imagine the feedback/rating system helps, but plenty of scammers found a way to game ebay's system.

    --
    What political party do you join when you don't like Bible-thumpers *or* hippies?
    1. Re:And how many times would you get ripped off? by Anonymous Coward · · Score: 5, Interesting

      I was following the whole "Silk Road" site for a while. I even ordered a grey market (not illegal but not really legal to "sell for human consumption") drug off it, just to test the waters, and.... it didn't show up. So I sent the guy a message and... he appologized and sent another one, which did.

      I would even call that "good customer service". That said, scams must be a problem and I may have gotten lucky. Last I saw (I lost interest shortly thereafter....I also never tried the "research chemical" so I can't say whether it was real... I want to say it was AMT but, I honestly don't remember) they were talking about makeing "seller accounts" pay to join.

      That at least decreases the incentive to scam, if they implemented it. I looked at some other sites, and some of them had a more in depth verification process before you could start selling. Not sure what that amounts to, as I never went through it.

    2. Re:And how many times would you get ripped off? by Anonymous Coward · · Score: 5, Interesting

      I know a number of people who have successfully ordered LSD (for ornamental purposes only) from a guy on Silk Road. It has a feedback system which works pretty well.

      Scammers can only get away with it a few times before changing user names, and few are willing to support a guy with 0 feedback when there are sellers with the same goods with tons of positive feedback.

  2. Sounds like... by AlienIntelligence · · Score: 5, Informative

    Sounds like a reason to blow a grand on stuff you shouldn't,
    in the name of writing an article.

    Until you read the article and see it's a talk thru.

    Then you read the entire article and realize, it's not even a
    talk-thru, it's a talk-about. And not even a good one at that.
    There is really no info, except, get bitcoins, use Tor, find
    stuff.

    Wow. In depth reporting at its finest.

    -AI

    --
    For me, it is far better to grasp the Universe as it really is than to persist in delusion
    1. Re:Sounds like... by Wizard+Drongo · · Score: 5, Funny

      Well it would have been a bit more in-depth, but after the first few deliveries of premium 'shrooms and acid drops, he kinda lost focus...

      --
      The truth shall always be free: Boris Floricic is Tron.
    2. Re:Sounds like... by jsh1972 · · Score: 5, Informative

      I actually read something early this morning on the subject that named an online marketplace called Silk Road, only accessible through TOR, and all transactions use bit coin, so I went and checked it out... the main thing was drugs (weed, heroin, meth, cocaine, pharmaceuticals, the new designer drugs, hallucinogen, you get the idea)... there were also hacking tools, banned books (think meth manufacture)... I saw categories for art, currency, services, clothing, and many others. It's an anonymous international marketplace with an escrow service and buyer/seller ratings. I was actually quite impressed.

    3. Re:Sounds like... by Red+Flayer · · Score: 5, Informative

      Because in order for it to be a black market purchase, you must purchase something, that doesn't exist on the regular market.

      That's not true at all. Black market != market for illegal goods.

      Black market means that the trade is being conducted outside the legally operating market, not that the item(s) are illegal.

      Cigarettes are legal. Buying cigarettes, cash-only, tax-free off the back of a truck is a black market transaction.

      Black markets capture economic activity that is "priced out" of the official market due to constraints on trade (like manufacturing quotas, taxes, legal price floors or caps, etc).

      As the market he delved into was not an official market, and operated out of the purview of LE, taxing authorities, etc, it was the black market.

      --
      "Trolls they were, but filled with the evil will of their master: a fell race..." -- J.R.R. Tolkien on Olog-hai
  3. How ofline Black markets works by denis-The-menace · · Score: 5, Insightful

    -Go to shady parts of a Big City.
    -ask around for [illegal stuff]
    -Use anonymous Cash (-- mention this is *BAD*, Um-Kay)
    -Conclude "Big Cities" are bad and should be controlled/blocked off. Should have check points. (IOW: Nazis had the right idea: "Papers Please")

    When will these fuddy-duddies/ idiots die-off so that this constant fear-mongering can stop?

    --
    Obama's legacy: (N)othing (S)ecure (A)nywhere and (T)error (S)imulation (A)dministration