German law enforcement authorities have taken out Hydra (a major darknet market) as a target. The operation was conducted in cooperation with the U.S. and allowed the German police to take control of servers hosting the Russian-language platform within the country.
Investigative Team Finds Hydra in Germany and Confirms Millions in Crypto
German authorities have taken control of Hydra Market’s server infrastructure, making it one the biggest darknet marketplaces. According to an announcement by the Federal Criminal Police Office (BKA), law enforcement agents also confiscated bitcoin worth around €23 million ($25 million). The following message appeared on Hydra’s website on Tuesday:
BKA carried out the raid together with the Central Office for Combating Cybercrime (ZIT) at the Public Prosecutor’s Office in Frankfurt which is leading the investigation against Hydra’s unidentified operators and administrators. The suspects are accused of running illicit online platforms which facilitate the sale and laundering money.
German police discovered that Hydra was active at least since 2015, before being seized by ZIT and BKA. These investigations were initiated in August 2015 and involved several U.S. government agencies.
Darknet Marketplace, accessible through the Tor network, targeted Russian speakers. The press release stated that it was home to over 17,000,000 customers and 19,000 registered sellers. These banned substances were not only illegal, but also provided stolen data, forgery documents, and digital services.
Hydra was able to take over DNM Ramp, a Russian darknet platform. Chainalysis’s data shows that Eastern Europe sends the most digital currency to darknet markets than any other area.
Washington has been alleging Moscow’s involvement with malicious cyber actors like DNMs, ransomware groups and other crypto-related crime. In September, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) sanctioned the Russia-based crypto broker Suex which is believed to have received more than $20 million from darknet markets like Hydra.
German officials believe that Hydra had the largest darknet market turnover worldwide. BKA and ZIT have estimated that its sales reached at least €1.23 billion in 2020 alone. They also noted that the investigations were hampered by the platform’s own ‘Bitcoin Bank Mixer’ service.
Are you concerned about other darknet market targets after Hydra’s? Comment below to let us know your thoughts.
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