AlphaBay Market

AlphaBay Market is one of the largest marketplaces on the dark web. And since it went offline last Tuesday, July 4, administrators haven't left any official statement to announce what happened. This has created a lot of speculation, including fears that the anonymous marketplace may be executing an exit scam. Users have become jittery that the free... anonymous market may have kept the Bitcoins and other cryptocurrencies in individual accounts with their sudden disappearance. AlphaBay Market partnered with Oasis in 2016, resulting in the surge of Monero value when it began accepting the cryptocurrency. The site's sudden disappearance has made users suspicious, especially with a large withdrawal of Bitcoin suspected to be sourced from one of the AlphaBay accounts. Bitcoins totaling 1,479.03904709 (worth about $3.8 million) were withdrawn to various addresses, causing users to become alarmed. Many believe this is indicative of an exit scam and that AlphaBay admins plan to keep all the money for themselves. Even though the market has only been down for a week, users' patience seems to be running out-especially when it comes to their funds. The site may be down for maintenance, but what worries people is the silence, coupled with the large withdrawal that is yet to be confirmed was done by AlphaBay admins. It has only been one month since the anonymous marketplace announced plans to integrate Zcash payments. The main reasons for this planned change are the high fees and uncertainty around the upcoming Bitcoin hard fork. It could be true that this outage resulted from unexpected security issues when integrating Zcash, hence AlphaBay's unwillingness to talk about the blackout for reasons of security. On Reddit, one user assumed to be an AlphaBay staff member posted that the downtime may bring about an increase in phishing sites but gave no reason for the outage. This is the closest we are to an official statement from AlphaBay Market.Read More