U.S., German Authorities Shut Down Hydra, Largest Darknet Marketplace
The Bundeskriminalamt (BKA), Germany's Federal Criminal Police Office, announced the successful shutdown of Hydra Market, the largest illegal darknet marketplace in the world. Hydra accounted for 80% of all darknet market-related cryptocurrency transactions in 2021, according to the U.S. Department of Justice. Since its conception in 2015, the marketplace received roughly $5.2 billion in cryptocurrency. In cooperation with U.S. law enforcement, German authorities seized approximately $25 million worth of Bitcoin contained in Hydra crypto wallets. The BKA notes it has been conducting extensive investigations into the marketplace since August 2021. It also says Hydra had approximately 17 million customers, with more than 19,000 seller accounts registered on the marketplace. For seven years, the Russian-based Hydra Market has been the go-to illegal... Read more