Hydra Announces ICO and Plans for a Global Decentralized Platform
The darknet marketplace Hydra, known for selling illegal goods, has announced its intention to launch an Initial Coin Offering (ICO) and create a transnational decentralized platform funded by the raised capital. According to the announcement, 49% of the Hydra Onion project will be offered for sale through the issuance of 1,470,000 tokens, each starting at $100. Holding 100 tokens will entitle the owner to 0.00333333% of the project’s net profit.
The marketplace’s administration has already prepared and published an investment memorandum. The document claims that Hydra is “among the top 10 Russian internet companies,” promises a 700% token growth in the first six months, and asserts that the marketplace previously helped eliminate competitors such as RAMP, IKLAD, BLACKMARKET, SOLARIS, and RuSilk.
“The elimination of all major foreign darknet markets has created a certain ‘vacuum’ in the international trade space. Technical vulnerabilities in the Tor network have led to the degradation of technologies for buying and selling controlled substances. There is a clear need for a high-level, technologically advanced, and secure international platform similar to Hydra.
We have proven our effectiveness as the most stable, professional, and aggressive project, with absolute authority and leadership. We are ready to suppress any resistance that could negatively impact the future of our projects,” the memorandum states.
Planned Technologies and Services
The administrators of the illegal marketplace also promise to create an anonymous network called AspaNET to address current Tor issues, a HatchService for creating AspaNET access gateways, and cryptocurrency exchange platforms LocalPoint and GlobalPoint. The new project is said to utilize IronRat AI and an advanced Whisper messaging system.
Expert and Law Enforcement Reactions
Journalists from ForkLog reached out to experts for comments, as Hydra’s announcement has already attracted the attention of law enforcement and others. A source within law enforcement confirmed that Hydra assisted authorities in shutting down the aforementioned darknet platforms and commented:
“Hydra’s ICO project is populist in nature and seems like the cries of a wounded animal, as law enforcement has taken measures that have complicated drug trafficking in Russia. Overall, the initiative by Hydra’s organizers is being taken very seriously, and actions are being taken to prosecute those involved in illegal drug trafficking.
Users who set up gateways on their computers to provide anonymous access will be breaking the law. For example, mathematician Dmitry Bogatov was prosecuted for running a TOR node. The same applies to services exchanging cryptocurrency obtained from drug sales. Legalizing criminal proceeds in Russia is a criminal offense,” the source said, adding that while there is currently no liability for investing in ICOs in Russia, recent government initiatives to crack down on drug trafficking may lead to financing such activities being prosecuted similarly to terrorism financing.
Risks and Warnings
Artem Kozlyuk, head of the public organization “Roskomsvoboda,” notes that Hydra’s owners will likely ensure a high degree of anonymity for their tokens:
“Often, everything depends on the human factor. Either shadow investors will leave digital traces that can later be linked to their identities, as happened with Silk Road, or if investor information is centralized, there are risks of data leaks. However, the black market operates by its own rules, and its players are well aware of the risks and threats involved in such activities.”
Users, journalists, and experts warn not only about the potential risks of this ICO campaign but also note that it could be an exit scam or trolling. It’s important to emphasize that Hydra and its operators are engaged in illegal activities, and implementing the investment memorandum could endanger users. Technologies created for committing crimes are equated with the use and distribution of malicious software.