The bitcoin Hodlers, ICO hustlers, and Lambo-owning crypto millionaires would like you to know that the cryptocurrency revolution is upon us. Before long you’ll be making breakfast on the blockchain!

But as the trustless, decentralized world of digital tokens expands—and Fortune 500 companies, banks, restaurant chains, and even countries (ahem, Venezuela) cautiously wade in—a credibility problem persists. Silk Road and AlphaBay may be gone, but that hasn’t stopped fraudsters, gamblers, sex workers, and drug dealers from cashing in.

Escorts, cam girls, and other sex workers now speak fluent crypto. (See: r/GirlsGone­Bitcoin.) At a club in Las Vegas, strippers accept tips in bitcoin, while PinkDate—the “Tinder of escorting”—claims it sold 40 million tokens in a recent coin offering.

Illegal online betting is much easier when money transfers can be made swiftly and untraceably. (No more payouts postmarked from shady banks in other countries!) Except now your crypto winnings could fluctuate along with the volatile market.

Cannabis startups such as Paragon and BudBo use blockchain tech to make it easier and more secure for suppliers to track their shipments. Meanwhile, on the dark web, traffickers of harder drugs are attracted to bitcoin’s perceived anonymity. Read more from wired.com…

thumbnail courtesy of wired.com