From the Executive Summary: "In this report, we focus on a well-known, high-traffic, underground cybercrime marketplace on HACK FORUMS, where trust and reputation play a prominent role as participants are anonymous and there is little legal recourse for dispute arbitration. This marketplace exists in tension between two opposing forces: the drive to hide incriminating information, and the trust and stability benefits that greater openness yields. Since June 2018, the marketplace has provided a trust and reputation infrastructure by way of a semi-public record of all transactions. Starting March 2020, we see a rapid climb in the number and value of contracts completed but no substantial change in the kinds of transactions, users, and behaviours. We conclude that the pandemic has 'stimulated' this part of underground economy, rather than 'transformed' it."
COVID Briefing Paper No. 2; Coronavirus Disease Briefing Paper No. 2
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Cambridge Cybercrime Centre: https://www.cambridgecybercrime.uk/