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Relatively tame photos of Jennifer Lawrence smooching her then-boyfriend Nicholas Hoult reportedly fetched 0,000.

The less nude pictures there are available, the higher the asking price.

In fact the perception is that if someone shows up and tries to make a lot of money, they are going to blow everything up." Once inside it was possible to exchange both money and images in trade, but photos were the most valuable commodity.

Security research Nik Cubrilovic, who has spent time immersed in the underground world of celebrity nudes and revenge porn, concurs.

Conversely, the more widely shared and distributed an image has become, the less valuable it is." Cubrilovic compares the marketplace to baseball cards.

"Most of the trading rings work not with cash payments for pictures, but through trading image sets.

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