Germany closed the server infrastructure for the Russian darknet market Hydraseizing 23 million euros in Bitcoin in the process. The announcement came on Tuesday from the German Federal Criminal Police Office. Let’s take a look at the details of the story and how exactly the facts unfolded.
Germany: dismantled Hydra, the platform for the dark net
Hydra is a big market on the dark web which serves as a hub for drugs, stolen credit card information, counterfeit banknotes, forged documents, and other illegal goods or services. The platform primarily targets criminals in Russia and surrounding nations. The so-called “Treasuremen“, Or drug dealers connected to the site, peddle drugs throughout the region by hiding them in geo-tagged retreats.
With the shutdown of the server based in Germany, authorities are now launching an investigation into Hydra’s operators and administrators, who are suspected of selling drugs and money laundering. German authorities say they have been investigating the market with US help since August 2021.
Although Hydra was known for selling narcotics, various reports also revealed the practice of cryptocurrency laundering as another growing trend. Cybercriminals could buy cryptocurrency from other sellers in exchange for rubles and then receive money via payment apps like YooMoney, Tinkoff, or QUIWI.
In response to the closure, theOffice of Foreign Assets Control of the US Treasury Department announced that it has sanctioned Hydra and the Russian cryptocurrency exchange Garantex. The United States is also working to identify over 100 cryptocurrency addresses linked to the illegal market.