AlphaBay market offline: Users suspect foul play!
Website down, angry users and many questions! The unannounced downtime of AlphaBay raises eyebrows and many fear for the worse.
Earlier today Redditor ‘angrymotherfucka’ posted an indeed angry comment on Reddit:
“HEY MAN WHAT IS PISSING ME OFF IS WHY NOBODY FROM SUPPORT POST SOME FUCKING UPDATE HERE TO CALM DOWN EVERYBODY ABOUT WHAT’S GOING ON MAN ???? … POST SOME FUCKING UPDATES HERE FOR US MAN WE HAVE THE RIGHT TO KNOW WHAT THE FUCK IS HAPPENING !!!!”
He is talking about AlphaBay, the largest dark web market for drugs, counterfeits and other illegal merchandise.
The site went offline late Tuesday night and until now the site’s admins and staff, usually communicating about downtime, failed to comment!
While details are still scarce, some users came across a large bitcoin transaction. One blockchain transaction shows a transfer of 1,479.03904709 BTC (about $3.8 million). That led to the suspicion from some users on Reddit and Twitter that AlphaBay performed a so-called exit scam. There is however no solid proof that the related bitcoin addresses belong to AlphaBay.
Exit scams are common among dark web markets, with site administrators abruptly pulling sites offline, stealing the bitcoin stored in users’ wallets, and never resurfacing. In May, the Outlaw market closed down, claiming that it was hacked. The timing of the alleged hack coincided with surging bitcoin prices. In 2015, the Evolution market disappeared with roughly $12 million of users’ funds in a similar scheme.
In our opinion and at this moment it is to early, and pure speculation to come to the conclusion that AlphaBay indeed pulled the plug.
We have reached out to some personal contacts among the AlphaBay staff, but so far without any reply.
This is a developing story. We will update our readers once we receive more information.