Abacus Market Disappears in Suspected Exit Scam as Western Darknet Turmoil Deepens
The post Abacus Market Disappears in Suspected Exit Scam as Western Darknet Turmoil Deepens appeared on BitcoinEthereumNews.com.
Abacus Market, one of the most influential Bitcoin-enabled darknet marketplaces in recent years, has reportedly vanished without warning, fueling widespread suspicions of an exit scam. Market Abruptly Vanishes Amid Growing Scrutiny According to blockchain intelligence firm TRM Labs, both the darknet platform and its clearnet mirror became inaccessible in early July 2024. The sudden shutdown has left users locked out of their accounts and unable to recover funds, prompting fears that operators may have deliberately shuttered operations and disappeared with customer assets. TRM Labs stated in its latest report that the move bore the hallmarks of an exit scam, a common tactic in the darknet economy where platforms abruptly cease operations after accumulating substantial deposits. User Warnings and Withdrawal Issues In the weeks leading up to its disappearance, Abacus users began encountering withdrawal delays and other operational issues. The platform’s administrator, known by the alias “Vito,” attributed the problems to a distributed denial-of-service (DDoS) attack and a surge in new registrations following Archetyp Market’s collapse. Despite these reassurances, users grew increasingly uneasy. Deposits to the marketplace, which averaged around $230,000 daily throughout most of June, plummeted to just $13,000 per day between June 28 and July 10. This sharp decline in activity mirrored warning signs observed in previous darknet market exit scams, where operators initially downplay technical difficulties before vanishing altogether. Law Enforcement Pressure and The disappearance of Abacus Market comes on the heels of intensified law enforcement actions targeting darknet operations. In mid-June, Europol dismantled Archetyp Market, one of the most established marketplaces in the Western darknet sector. That takedown triggered a mass migration of vendors and buyers to Abacus, propelling it to the top of the illicit online trade hierarchy. In June 2024 alone, Abacus registered a record-breaking $6.3 million in sales, commanding over 70% of the market…
Filed under: News - @ July 16, 2025 10:23 am