German police shut down $1.3bn illegal Darknet firm

Seizing 23 million euros ($25.2 million) worth of Bitcoin. 
Image: Andrey Rudakov/Bloomberg

German law enforcement shut down what they say was the biggest illegal Darknet market place seizing 23 million euros ($25.2 million) worth of Bitcoin.

The Russian-language Hydra Market platform was used for drug trafficking and money laundering and in 2020 alone had sales on 1.2 billion euros, the Frankfurt prosecutors’ anti-cybercrime unit said Tuesday. Prosecutors said they seized 543 Bitcoin in total.

Frankfurt Prosecutors and German federal police cooperated with U.S. authorities on the probe.

Hydra Market had about 17 million client accounts and more than 19,000 sales accounts. The server structure was in Germany. Last year, German police had already taken down the DarkMarket that about half a million people used to trade drugs and cryptocurrencies.

© 2022 Bloomberg

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