Empire Market disappeared with $ 30 million in crypto

The digital trading platform in the Empire Market darknet appears to have been fraudulent, as it went into hiding with a huge profit of 2,638 Bitcoin.

Empire Market disappears without a trace. This amounts to approximately $ 30 million, and users who feared another distributed attack of the type, “denial of service“ (DDoS) and potential exit fraud, it seems, were not mistaken. Earlier this week, it was reported that the darknet giant Empire Market was down for more than 48 hours, raising concerns from darknet customers who feared that the website of illegal online goods and services had been hacked. The darkweb giant has previously suffered from numerous DDoS attacks, which, as a result, led to a network outage.

While some feared that the glitch in the darknet market was caused by a DDoS attack, others feared that it could be a get-out-of-fraud ploy, which is usually a trick that companies use to get payments for new orders while stopping refund orders at the same time.

Darknet customers ‘ fears of a potential crypto Scam seem to have been justified, as one of the Empire Market employees confirmed that it was indeed an exit Scam, as reported by dark web journalist Dark. fail. An Empire Market representative, who wished to remain anonymous, said the estimated amount received by the darknet’s administrative staff was 2538 BTC. Dark.fail, a writer specializing in the Tor network, took to Twitter and said:

A week ago, a DDoS attack on the Empire Market began, which led to the sudden disappearance of the largest darknet market. No arrests, no updates. A week and a good catch. Admins can still come back and honestly return everything, but their own staff announced that it is not necessary to cherish vain hopes. This is a final exit Scam.

Comment by the CEO of Cybersecurity.

Mark arena, chief Executive of a cybersecurity firm that specializes in tracking trading platforms on the Internet, spoke out about this. According to Bloomberg, he said that there are two possible explanations for disabling the criminal resource. First, the dark web market could be arrested by law enforcement. Another plausible explanation was that all users were victims of a Scam in which their cryptocurrency was stolen.

Arena also added that the total assets held by Empire Market are probably high, at least expressed in millions. The moderator of Empire Market, who wished to remain anonymous, also commented on the incident in writing and told Bloomberg that the dark network Empire Market, leaving with the cryptocurrency funds of its clients and disappeared without a trace, was a real shock. Blockchain for greater security

Due to the increasing number of illegal activities carried out on the Internet, the use of blockchain for security purposes is discussed and considered by many in the cybersecurity industry. Speaking about the emergence of cryptocurrency in the traditional world of Fiat money, Paxful compliance Director Lana schwartzmann vouched for blockchain technology, saying that it is easier to track criminals with cryptocurrency, since there is a digital footprint, compared to traditional robberies.