Gone Without A Trace: Darknet Bitcoin Platform Vanishes In Suspected Scam
Main Idea
Abacus Market, a major Bitcoin-powered darknet platform, has abruptly shut down, with suspicions of an exit scam by its operators.
Key Points
1. Abacus Market's clearnet mirror, website, and wallets vanished suddenly, leading to suspicions of a scam.
2. Daily sales on Abacus dropped from around $230,000 in early June to $13,000 by late June, indicating a loss of user trust.
3. The platform's admin, 'Vito', blamed a surge in withdrawals, but many users pulled their funds out due to eroding trust.
4. Abacus saw its highest monthly sales in June, reaching over $6.3 million, likely due to the shutdown of competitor Archetyp Market.
5. Darknet markets like Abacus often face exit scams or law enforcement seizures, as seen with past examples like Evolution Market and Agora Market.
Description
Abacus Market, one of the biggest Bitcoin-powered darknet bazaars in the West, has gone offline without warning. According to TRM Labs, its clearnet mirror, website and wallets all vanished at once. Users first reported trouble withdrawing funds in late June. Then deposits plunged from around $230,000 a day in early June to just $13,000 daily between June 28 and July 10. Now, many think the operators simply grabbed the cash and disappeared. Market Faces Sudden Shutdown Based on reports from TRM ...
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