Hydra – Russia’s largest darknet plans to raise $ 146 million through an ICO

By Dorothy 12/13/19 2:03 PM

Hydra arguably the largest darknet market serving Russia and its neighbors. They claim that they are seeking to raise $ 146 million through an ICO to fund worldwide expansion.

The token sale is expected to launch on December 16. It is difficult to access without a special anonymous browser, according to an investment memorandum on the website.

This ICO service is almost certainly illegal and not just under securities laws.

Hydra – the dark network market

Hydra has the ambition to introduce its deceptive, anonymous trading model for large-scale illegal substances. An investment memo, accessible only through dark web browsers like Tor, claims the platform’s global expansion “will start a new era in the West” at a scale that is “hard to imagine.”

Hydra provides an anonymous service whereby carriers disperse purchased goods to designated points, concealing them in public spaces, which will then be collected by customers. Neither the buyer, the seller nor the courier will cross each other.

Operators plan to use the money to build a new service, Eternos, which combines encrypted messaging services, a browser focused on privacy, automatic dispute resolution and cryptocurrency exchange and cryptocurrency exchange.

Can buy tokens in Bitcoin

Scheduled for December 16, the token sale will provide investors with 100 token packs, empowering the 0.003% stake in the company’s profits. The tokens are priced at $ 100 per person, payable in Bitcoin.

The release is set at 1,470,000 tokens, representing 49% of the Eternos value, and commits $ 500 monthly dividends to those who buy more than 100 tokens. Forklog has warned readers; the project may become a scam.

The figures are based on a monthly revenue forecast of $ 15 million, which operators justify citing their current growth figures.

Hydra claims it has a user base of over 3 million, processing more than 100,000 daily transactions for illegal substances, hacking services, fake documents, stolen data, and cash.

Due to the illegal nature of its business, the provision of Hydra tokens may be the most brazen ever, even compared to ICOs that pushed the envelope of US registration requirements in 2017. Russian news store Forklog warns that the sale may be an exit scam, a common occurrence in the darknet market.

The requirements in the Hydra supply memo are nothing if not in bold. Proud of their security and attack resilience, the team behind Hydra said that they wanted to introduce the rest of the world to their online contactless trading method, in which buyers, Seller, and courier never meet.

“No KYC, everything will be anonymous and on the highest level. We’re no TON”. The notice said that notice at the blockchain project of the messaging app Telegram requires its token buyer to undergo screening of your customers.

More than 2.5 million registered accounts on Hydra

Hydra opened in 2015, providing a market for illegal goods such as drugs and their ingredients, fake documents and money, and hacking services. As of June 2019, the Russian investigation website Proekt confirmed that Hydra has 2.5 million registered accounts, 393,000 of which have made at least one purchase.

According to Hydra, the number of users exceeds three million and they make more than 100,000 transactions a day, trading Colombian cocaine, home-grown cannabis, fake passports, stolen official databases, and cash to in exchange for BTC.

Hydra purchases are paid with bitcoins or electronic transfers, as in the oldest (and no longer existing) illegal market of Silk Road, founder Ross Ulbricht serving a sentence in the U.S. Unlike at Silk Road, Hydra buyers do not receive goods banned from mailing but are hidden in secret locations around the city where they live.

After paying for a purchase, buyers get detailed instructions to the right place in the park, mailbox or another area where delivery is made. The parcels were delivered by the paying contractors and none of the three participants in the transaction met in person.

The project estimates that since 2016, users have spent more than $ 1 billion on Hydra. The site has its own team of developers, security services and drug advisers, according to an anonymous employee.

According to its job page, Hydra is hiring its own chemists to check the quality of drugs that are marketed.