Russia’s largest Darknet marketplace Hydra is planning a multi-million dollar ICO.

Russia's largest darknet marketplace Hydra is planning to raise $146 million through a token sale to fund a worldwide expansion. Russian news outlets have warned that the ICO could be an exit scam.

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According to an investment memorandum on the darknet website, the token sale is scheduled to launch on December 16. The darknet market claims to be seeking $146 million in its ICO. However, the whole planning could be a scam as warned by Russian news outlets.

 

Tokens can be purchased using bitcoin.

The ICO of the darknet marketplace has priced each token at $100, which can be bought for bitcoin on the platform. According to the memorandum seen by CoinDesk, a package of 100 tokens will provide a buyer with a 0.00333333 percent share of Hydra’s profit. Hydra came into existence in 2015 and is a well-known name in the Darknet marketplace. The darknet website offers illegal goods such as banned substances, counterfeit documents and money, and hacking services.

 

Hydra has more than 2.5 million accounts.

Hydra has claimed that the number of the darknet site users exceeded 3 million, and over 100,000 deals are made every day. The mode of payment on darknet websites is bitcoin and other cryptocurrencies, as they are hard to track back to the customer or the vendor. Russian investigative outlet The Project estimated that since 2016, users have spent over $1 billion on this darknet marketplace. The darknet marketplace is accessed via anonymous browsers like Tor.

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Jai Pratap
A Mass Media Graduate who loves to write. Jai is also a sports enthusiast and a big movie buff. He loves to learn new things.

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