So the Darknet markets confused for users after the collapse of Hydra: Report

So the Darknet markets confused for users after the collapse of Hydra: Report

The blockchain analysis company Chainalysis has published a new report that describes the dynamics of Darknet markets and fraud shops after the former giant Hydra Market collapsed due to joint measures by authorities in Germany and the United States.

After the US Finanz Ministry Office of Foreign Assets Control (OFAC) sanctioned Hydra and German authorities Ordered After his closure, the average daily income for all Dark-Web markets fell from $ 447,000 to $ 447,000

The total turnover of the Darknet market for 2022 was $ 1.5 billion, a significant decline compared to $ 3.1 billion in 2021. Other marketplaces most likely focused on putting on former Hydra providers and users, since most fraud shops after collapsing the platform won.

The struggle for the dominance of the Darknet market

according to the Report , three large Darknet markets won dominance after the downfall of Hydra. While their income did not reach that of Hydra, Mega Darknet Market, Blacksprut Market and OMG! OMG! Market recorded higher shares.

remarkably, each of the three platforms dominated the market at different times. The first was OMG, the dominance of which was immediately after Hydra's downfall.

Although OMG became active in July 2020, his deposit volumes were so low that it was more of a personal company than a Darknet market. However, the platform recorded high inflows as soon as Hydra went down, most of them from Hydra counterparties.

The inflows lasted until June when OMG suffered a DDOS attack (Distributed Denial of Service). The attack caused providers and users to migrated to the Blacksprut Market and Mega Darknet Market. Blacksprut was also hacked in November, which forced users to switch to mega market.

Nonetheless, OMG recorded more inflows and activities than blacksprut and mega markets in 2022.

an administrative link?

Interestingly, on-chain data showed that the central wallet from OMG use a group of deposit addresses previously used by Hydra that belongs to a risky stock exchange that is mainly active in Russia.

Blacksprut and Mega sent funds to the same group of addresses, but not as much as OMG. This indicates an administrative or provider -side overlap between all four markets, but above all between Hydra and Omg.