Hydra is Allegedly Planning to hold $146 ICO for Worldwide Expansion


Hydra, an infamous darknet marketplace based in Russia that claims to have over 3 million consumers, is allegedly planning an ICO set to begin on December 16 to support its expansion on a global scale. According to Forklog, the marketplace is preparing to move to a regionalized model and distribute tokens on a profit-based method. However, Forklog also warns prospective investors that the entire procedure might be a trap for an exit scam.

Hydra offers an anonymous service by dispersing couriers to marked, hidden locations in public spaces, later to be collected by the customer—no buyer, courier, or seller will cross paths. Founded in 2015, it is Russia’s leading online darknet market where you can purchase illegal goods like banned substances, fake documents and currency, and hacking services.

Moreover, as per Forklog, the site has issued a memorandum, which declares that tokens will be traded in packages with the minimum set at 100 and allowing purchasers a 0.003% share of Hydra’s revenue—supposedly equating to $500 a month, pain in BTC. 49% of minted coins will be issued to the public, with the rest to remain with the team, raising the speculation that they would scrap the tokens on the first transaction they reach.

Hydra reckons they will use the funds to launch a new worldwide facility called Eternos with a promise that it will include a crypto exchange, encrypted messenger, Tor-like browser, and even an OTC (over-the-counter) marketplace.

Recently, Hydra has taken an unusual step of financing an investigation into a competing Russian darknet marketplace by an online news site Lenta. As a result, the chief editor of Lenta, Vladimir Todorov, said the evidence and statements on Hydra’s behalf are not real, which has led to further suspicions about ICO’s legitimacy.


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