Russia’s largest darknet market, Hydra, appears to have opened a token sale to fund the global expansion of its illegal business empire.
What is Hydra?
The Russian marketplace Hydra is one of the largest illegal marketplace currently operating on the dark web, launched in 2015. So far, Hydra has owned over 2.5 million users. This marketplace specializes in providing vendors with the ability to create individuals online shops to market their products.
Of course, the primary payment method on Hydra is Bitcoin. Users can also update the Bitcoin price right on the right side of the platform in both US dollars (USD) and Russian rubles (RUB).
A screenshot of Hydra’s homepage
For the most part, drug and illicit trade will take place on Hydra. Such as fake passports and fake money. This operating model is similar to its pioneering predecessor Silk Road.
Suppliers, such as Walt Disney Drugs, Pyramid Market and PokemonGo, display their goods, accompanied by detailed descriptions and customer reviews to ensure buyers know what they’re buying.
In many ways, darknet markets like Hydra mimic the user experience of online retail platforms like Amazon or Etsy, one of the factors that contribute to their popularity with users preparing to enter illegal markets.
The Hydra ICO – the most illegal token sale to date
Hydra executives seem to be looking to raise $ 146 million through the sale of digital tokens in exchange for Bitcoin. They set the price at $ 100 / token, a pack of 100 tokens. When purchasing this investment package, users will have the right to share 0.00333333% of the profits of Hydra.
It is known that Hydra plans to issue 1.47 million tokens, which will account for 49% of the new Eternos project. The remaining money will be transferred to the Hydra operators. Eternos is shaped as a global dark web marketplace combined with encrypted messaging, integrated cryptocurrency exchange, anonymous browser, AI-provided dispute resolution, and OTC market. Of course, users will not need to KYC on the network.
The official launch date for the Hydra ICO is December 16, 2019. However, the operators have not specified which Blockchain tokens to issue.
Another scam coming up?
Not only are Hydra ICO operators trying to sell unregistered securities to an unregistered business, but the entire business model of the joint venture is also based on the trading of illegal products.
Although the Ponzi HEX project has recently been scandalous, raising $ 5 million in Ethereum. But the Hydra ICO is another story. It would haven’t come as a surprise to see everyone invest in what has all the signs of an escape scam. However, the chances of investors getting any return on investment are near zero.
In fact, with Blockchain technology, 100% of anonymous tokens cannot be successfully deployed in which all investors will receive an unreachable digital token, which then Can trade in the secondary market with any liquidity. Therefore, any token issued by Hydra will likely struggle to gain any footing on the open market.
The most likely way this ICO will take place is an exit scam, which has happened to a large number of darknet markets.
An ICO exit scam involves executives selling tokens that took off with investors’ money without ever intending to distribute the product.
Even if you believe in the honesty and integrity of those who run a dark, illegal network market, buying Hydra tokens will constitute a violation of the law – whatever jurisdiction you rely on – because you will sponsor a criminal organization.
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