Kriminologisches Journal

A qualitative analysis of the Russian cryptomarket Hydra

Zusammenfassung

Hydra is regarded as the largest Russian-language online marketplace for illicit goods with no less than four million Euro of annual revenue. In this paper, we provide a qualitative analysis of the unique organization of the Hydra cryptomarket. The theoretical framework for this study draws on information asymmetry and assumptions of signaling theory. Data collected include longitudinal parsing and non-participant observation from 2019 to 2021. Hydra is a monopolistic marketplace with no alternatives of the same scale in Russia, and exhibits considerable differences with regard to international cryptomarkets. In the analysis, we present the three themes: physical stashes, formalized rules, and the architecture of the Hydra market. Contrary to the reliance on the postal system for delivering drugs internationally, Hydra introduces a novel delivery method called stashes, which puts buyers at higher risks to get caught by law enforcement agents and make them more “active† in obtaining drugs. Buyers not only have to choose and pay for drugs; they also need to go out in the streets and personally look for their purchased stuff. While elaborated formalized rules enabled by strong sanctioning mechanisms (e.g., fines) cover every possible aspect of interaction connected to the marketplace usage, a multilayered platform architecture allows for the emergence of complex hierarchies and segregation between users. Hydra also provides automatic services related to drug selling (instant purchases, non-mediated disputes, etc.). In addition, personal communications between actors are confined by the architecture, so that visible public communications give buyers the only substantial grounds for decisionmaking. These findings raise questions considering the role of credibility signals, asymmetry of information, and formalized rules in resolving issues of product quality, stable exchange processes and communication processes.

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Beitrag
A qualitative analysis of the Russian cryptomarket Hydra
Kriminologisches Journal (ISSN 0341-1966), Ausgabe 3, Jahr 2021, Seite 169 - 185

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Über diesen Artikel

Titel

A qualitative analysis of the Russian cryptomarket Hydra

Zeitschrift

Kriminologisches Journal (ISSN 0341-1966), Ausgabe 3, Jahr 2021, Seite 169 - 185

DOI

10.3262/KJ2103169

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Artikelseite content-select.com

Print ISSN

0341-1966

Verlag

Beltz Juventa

Autoren

Anastasia Meylakhs / Ramil Saidashev

Schlagwörter

Russland
Russia
cryptomarkets architecture
formalisierte Regeln
formalized rules
Hydra
illegal drug markets
Illegale Drogenmärkte
information asymmetry
Informationsasymmetrie
Kryptomärkte
stashes
Verstecke

Kriminologisches Journal 3/2021

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