Hydra is not only illegal in Russia, most countries with serious judiciaries would want to nab the people running it if ever it expands into their borders. Hydra is the largest illegal or darknet marketplace in Russia, and now its creators want to globalize their vice. However, the website can’t be accessed without the use of an annonymized browser that makes it hard to track it.

In a memorandum posted on its website, Hydra seeks to raise capital to the tune of $146 million through an ICO sale to fund its global expansion.

Those willing to buy the tokens will have to cough up $100 for each and pay with Bitcoin. The website promises a monthly dividend of $500 per token, but only if you buy 100 tokens or more. It claims to issue around 1.4 million tokens that will account for about 49% of its new project called Eternos. The ICO will launch on December 16.

Hydra’s Background

Hydra came into existence back in 2015 and hosts an illegal marketplace for contraband goods, drugs, hacking services, money laundering, and even fake documents like passports. The website claims to boast a user base of over 3 million people and around 100,000 deals closed daily.

People making deals on Hydra don’t meet, but they use a rather discreet arrangement whereby the buyer is given a location to pick up their bought goods. The seller, the website’s operatives, and the buyer never meet. This has made it hard for the authorities to track them down and catch them.

Exit Scam?

Hydra offering an ICO is as blatant as it sounds, especially given that it’s an illegal marketplace that does everything banned under any country’s laws. Also, it’s not uncommon for people to get scammed through such shady ventures on the darkweb.Some people have already warned that Hydra’s claim to raise $146 million to fund a new project (Eternos) to expand its reach could actually be an exit scam.

They could take people’s money and just disappear.While issuing a memo announcing the new plans, the website gives no mention to the blockchain on which it plans to run its ICO issuance. That’s already a red flag.

It’s Self-Reliant

Hydra claims that the new service named Eternos will boost its global reach and create a global darknet marketplace complete with an exchange, an encrypted messenger, an anonymous browser, and OTC (over-the-counter) functionality, and a dispute resolution system run by an AI (Artificial Intelligence).

Hydra has its own security team, web developers, and counselors. It has even advertised a chemist’s position on a page on its website. Since 2016, people have spent more than $1 billion on Hydra, and that makes it even scarier especially now that it wants to expand into more countries. Can Hydra it be stopped?