Major darknet marketplace White House Market is no longer supporting Bitcoin (BTC) payments. As per a released statement, Morphtoken, the third party payment processor partner, has suddenly decided to block access from Tor exit nodes. The platform is now apparently only accepting privacy coin Monero (XMR). White House Market went on to become one of the largest and most active darknet markets after Empire Markets, another top marketplace went offline last August.
White House Market No Longer Accepting Bitcoin
With Bitcoin’s increased demand from both retail and institutional investors, a major marketplace on the darknet, the White House Market has stopped accepting payments in Bitcoin (BTC).
Usually, Bitcoin is a preferred mode of payment in the darknet markets due to the anonymity and privacy involved. In fact, Bitfury, the leading security, and infrastructure provider for Bitcoin blockchain estimated that around $1.4 billion worth of Bitcoins (BTC) were sent to mixing services this year alone.
As per the statement released by White House Market:
“Bitcoin payments are no longer accepted. The 3rd party exchange API we used (Morphtoken) has suddenly decided to block access from Tor exit nodes and while this is trivial to circumvent we decided to respect their decision. The Bitcoin workaround was supposed to be there just to help with the transition to XMR and as we are concerned it’s done, therefore we are now Monero only, just as planned.”
Cryptocurrencies Are a Popular Choice in Dark Web
Many of the dark web’s most popular sites are known as darknet markets as they sell goods that are often illegal through such platforms. They mostly use Bitcoin (BTC) or other cryptocurrencies such as Monero (XMR) for making payments.
Even though Bitcoin (BTC) is not controlled by the government, its previous transactions can be traced. This means that Bitcoin spent at any darknet marketplace can reveal its previous owner’s identity. Meanwhile, Monero (XMR) is designed to be anonymous and does not keep any record of previous transactions.