Bitcoin-fueled darknet marketplace vanishes in possible exit scam
2025-07-15 03:23:38
Main Idea
Abacus Market, the largest Bitcoin-powered Western darknet marketplace, has gone offline, with TRM Labs suggesting it may be an exit scam or a covert law enforcement seizure.
Key Points
1. Abacus Market commanded around 70% of the market share across Bitcoin-enabled Western darknet marketplaces in 2024 before its sudden shutdown.
2. TRM Labs suspects the operators may have conducted an exit scam, disappearing with users' funds, or the shutdown could be due to law enforcement action.
3. The marketplace saw its largest-ever monthly sales volume of $6.3 million in June after competitors like Archetyp Market were shut down.
4. Abacus generated nearly $100 million in Bitcoin sales over four years, with Monero transactions potentially pushing the total to $300 million.
5. TRM Labs notes that law enforcement may be covertly investigating the marketplace, as seen in past cases where seizure notices appeared months after shutdowns.
Description
Abacus commanded around 70% of the market share across all Bitcoin-enabled Western darknet marketplaces in 2024.
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