World’s Largest Darknet Marketplace Shut Down, Leaving 543 Bitcoins -Breaking
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© Reuters. World’s Largest Darknet Marketplace Shut Down, Leaving 543 Bitcoins- World’s largest darknet marketplace, Hydra, gets shut down.
- This operation was coordinated between US and German law enforcement.
- The law enforcement confiscated cryptocurrency wallets containing 543 bitcoins.
The largest and oldest Darknet – or Dark Web – Marketplace, Hydra Market, was seized and shut down by German Authorities and US law enforcement, the US Justice Department stated on April 5.
The US Department of Justice (DOJ) also stated that one of Hydra’s alleged operators was charged with conspiracy to distribute narcotics and conspiracy to commit money laundering.
German Federal Criminal Police found and seized cryptocurrencies wallets in Hydra’s market. The Department of Justice reported that 543 Bitcoins and $25,000,000 were contained in the wallets.
According to the DOJ, Hydra Market – whose users were primarily in Russian-speaking countries – accounted for what is estimated to have been 80% of all dark web market-related cryptocurrency transactions during last year.
Hydra Market reported that it has been receiving approximately $5.2 Billion in cryptocurrency transactions since 2015, according to the DOJ. As a result, these sales have brought in millions of dollars in commissions.
In addition, according to the US Prosecutors, Hydra Market formed a safe space for vendors of a wide range of drugs – including opioids, heroin, cocaine, methamphetamine and LSD – to connect with customers for such substances and rate the seller on a five star system.
It also offered services such as hacking tools, fake identification documents and money laundering.
Dmitry Olegovich Pavlov (a Russian citizen of 30 years) was also indicted. This indictment is related to conspiracy to distribute drugs and money laundering. It concerns his operation and administration for Hydra.
Merrick Garland, U.S. attorney general, made the statement in which he spoke out about late-breaking news.
Together with our German law enforcement partners, we have seized the infrastructure of the world’s largest darknet market, but our work is far from over,
“We will continue to work alongside our international and interagency partners to disrupt and dismantle darknet markets, and to hold those who commit their crimes on the dark web accountable for their acts,” Garland added.
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