German authorities seize Bitcoins worth more than €23 million
- German authorities have shut down the 'Hydra Market'.
- Bitcoins worth more than €23 million were seized
- The marketplace was the biggest illegal marketplace operating within the darknet, according to German authorities.
- Drugs, stolen data, or fake documents could all be bought on the 'Hydra Market'.
German authorities have shut down the most profitable but illegal marketplace called 'Hydra Market'. According to the German police, they were able to seize the server infrastructure in order to close the illegal platform.
'Hydra Market' was a Russian-based platform founded in 2015. According to German authorities the sales volume exceeded €1.23 billion in 2020 alone.
More than 17 million user were registered on the marketplace as well as 19,000 vendors.
Drugs and Stolen Data
The 'Hydra Market' was mainly used to sell and buy illegal drugs as well as stolen data or fake documents.
German authorities also took down a so called 'Bitcoin Bank Mixer'. Such a service is used to erase any traces that could lead to the owner of the Bitcoin.