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BTC and alt coin prices going down.

Discussion in 'CryptoCurrency' started by argy owl, Jul 15, 2017.

  1. argy owl

    argy owl BANNED BANNED

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    https://bitcoinmagazine.com/articles/alphabay-shut-down-law-enforcement-admin-commits-suicide-jail/

    AlphaBay, the most popular marketplace on the dark web, shut down on July 4. At first, many of the users suspected an exit scam; however, it has since become clear that law enforcement has taken down the underground market. According to the Wall Street Journal, an international police action took place in the United States, Thailand and Canada.

    On July 5, law enforcement in Thailand arrested Alexandre Cazes, 26, a Canadian citizen who is believed to be one of the operators of AlphaBay. On the same day, the Royal Canadian Mounted Police (RCMP) executed a search warrant at a residence in Trois-Rivières, Quebec, where a high-technology crime unit seized computer equipment.

    Melissa Sweeney, a spokeswoman for the U.S. Embassy in Bangkok, stated Cazes was taken into custody by Thai authorities “with a view toward extradition to face federal criminal charges in the United States.” According to the Wall Street Journal, it wasn’t immediately clear whether the defendant had legal representation.

    On Wednesday, Cazes was found hanged in his prison cell at the Narcotics Suppression Bureau in Bangkok, Thailand. The death of the alleged AlphaBay operator was confirmed by a spokeswoman for Canada’s foreign affairs department on Thursday. However, she declined to comment further on the case due to privacy reasons.

    According to the Bangkok Post, the body of Cazes was found by a duty officer who noticed a towel hanging from the toilet door in his cell. When the officer entered the cell, where the suspect was held alone, he found Cazes dead. Authorities believe the suspect used the towel to hang himself.

    Cazes had been living in Thailand with his wife for eight years, working as a computer programmer. The Criminal Court in Thailand issued a warrant for the suspect’s arrest on June 30 at the request of U.S. law enforcement authorities. According to the Bangkok Post, during the arrest on July 5 in the Thawi Watthana district of Bangkok, investigators seized four Lamborghini cars and three houses worth approximately 400 million baht in total (nearly $12 million).

    AlphaBay was founded in December 2014, taking the place of the Silk Road Marketplace, which was seized by the FBI in October 2013. Andrei Barysevich, a director at the threat intelligence company Recorded Future Inc., told the Wall Street Journal that AlphaBay not only focused on the sale of drugs, but also allowed the advertising of products and services that other underground markets banned, such as stolen credit card numbers and online fraud tutorials. The researcher stated that AlphaBay sold more than $5 million worth of stolen credit card information in the first half of 2017 alone.

    Nicolas Christin, an associate research professor at Carnegie Mellon University studying underground marketplaces, said the total sales on AlphaBay had an average of $600,000 to $800,000 a day. That means the marketplace earned millions of dollars in commissions every year.

    Some users on the /r/DarkNetMarkets subreddit blamed the vulnerabilities of AlphaBay for the shutdown of the website.

    “An AB vulnerability leading to an IP leak or other de-anonymization issue would not be a surprise — how many bugs were there over the years reported here [in the subreddit]? Seemed like PMs were leaked every couple months ... And for every bug you see, there’s a dozen you don’t. I started being surprised a long time ago that AB was still around outliving so many apparently better-run DNMs, having neither exit-scammed nor been hacked nor been raided. Perhaps its time was simply up,” Gwern, an independent researcher, wrote.
     
    Last edited: Jul 15, 2017
  2. Zwielicht

    Zwielicht Moderator Staff Member Moderator Jr. VIP

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    Thread Moved
     
  3. laur.laurix

    laur.laurix Power Member

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    these fuckers are the real definition of go big or go home.
     
  4. CyberHour

    CyberHour Jr. VIP Jr. VIP

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    And you are posting this because? We know that AlphaBay was launched with one purpose.
     
  5. laur.laurix

    laur.laurix Power Member

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    If there are no dnm`s for people to buy fun stuff with cryptos, the demand will decrease and so the prices of crytos. the biggest volumes of cryptos are used on the darknet to buy illegal stuff.

     
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  6. Lordscarlos

    Lordscarlos Newbie

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    True. BTC been −273,31 since yesterday.
     
  7. 1337WuLF

    1337WuLF Senior Member Premium Member

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    Another existing popular marketplace will take its place as the #1 marketplace within days / weeks.

     
  8. laur.laurix

    laur.laurix Power Member

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    not so sure about that....the govs started clamping down really hard on these kind of businesses...not for the drugs or kid porn but for the weapons, explosives and intel which are used in terrorist attacks.

     
  9. BloodyNinja

    BloodyNinja Power Member

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    If you run an illegal internet market, it's just common sense to stay low-profile and away from countries that have close ties to US. These market operators that get caught seem to be dumb and greedy. Perhaps, that's why they create those markets in the first place.
    I wonder how he laundered the money to buy four lambos and somewhy I think he didn't.
     
  10. AlumniAce

    AlumniAce Regular Member

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    he committed suicide? bullshit, I bet he paid the corrupt cops a few milli and ran away to another country
     
  11. elavmunretea

    elavmunretea BANNED BANNED

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    Shame, they had a really good site running there.

    I wouldn't be surprised if that was the case, I bet they were sat on a fuck tonne of money.

    Not to mention the products that they probably sold themselves on the platform.
     
  12. avilux

    avilux Power Member

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    Right.. but this doesn;t mean all the markets go away suddenly LOL. The darknet business is EXTREMELY lucrative