Russian Hydra DarkNet Market Made Over $1.3 Billion in 2020
May 26, 2021
Russian-language dark web marketplace Hydra has emerged as a hotspot for illicit activities, pulling in a whopping $1.37 billion worth of cryptocurrencies in 2020, up from $9.4 million in 2016, marking a staggering 624% year-over-year jump over a three-year period from 2018 to 2020. "Further buoying Hydra's growth is its ability—or its good fortune—to remain running and unscathed against competitor attacks or law enforcement scrutiny ; its only downtime of note occurred during a short time period at the beginning of the COVID-19 global pandemic in late March 2020," threat intelligence firm Flashpoint said in a report jointly published with blockchain analysis firm Chainalysis. Active since 2015, Hydra opened as a competitor to the now-defunct Russian Anonymous Marketplace (aka RAMP), primarily facilitating narcotics trade, before becoming a bazaar for all things criminal, including offering BTC cash-out services and peddling stolen credit cards, SIM cards, document