Here’s how Darknet Markets Scrambled for Users After Hydra’s Collapse: Report > 자유게시판

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Blockchain analytics firm Chainalysis has revealed a brand new report detailing the dynamics of darknet markets and fraud retailers after the previous big Hydra Market collapsed on account of joint actions from authorities in Germany and the United States.

After the U.S. Department of Treasury Office of Foreign Assets Control (OFAC) sanctioned Hydra in April and German businesses ordered its closure, average daily revenue for all darkish net markets fell from $4.2 million to $447,000.

Total darknet market revenue for 2022 was $1.5 billion, a significant decline from $3.1 billion in 2021. Other marketplaces most probably channeled their efforts in the direction of attracting former Hydra vendors and customers, as most fraud retailers gained their initial market share after the platform’s collapse.

The Struggle for Darknet Market Dominance

As per the report, three major darknet markets gained dominance within the wake of Hydra’s downfall. While their revenues didn't come close to Hydra’s, Mega Darknet Market, Blacksprut Market, and OMG!OMG! Market recorded larger shares.

Notably, every of the three platforms dominated the market at completely different durations. The first was OMG, whose period of dominance was immediately after Hydra’s demise.

Although OMG grew to become energetic in July 2020, its deposit volumes had been so low that it was extra of a private operation than a darknet market. However, the platform recorded high inflows as quickly as Hydra went down, most of which came from Hydra counterparties.

The inflows continued till June, when OMG suffered a distributed denial of service (DDoS) assault. The attack caused distributors and customers to migrate to Blacksprut Market and mega darknet market Market. Blacksprut also obtained hacked in November, forcing users to move to Mega Market.

Nonetheless, OMG recorded more inflows and activities than Blacksprut and Mega Markets all through 2022.

An Administrative Link?

Interestingly, on-chain data has proven that OMG’s central wallets use a bunch of deposit addresses beforehand utilized by Hydra, which is owned by a high-risk alternate working primarily in Russia.

Blacksprut and Mega despatched funds to the identical group of addresses however not as much as OMG. This suggests an administrative or vendor overlap between all four markets but primarily between Hydra and OMG.