Abacus Market—Bitcoin’s Darknet Giant—Disappears Overnight in Likely Exit Scam

Another one bites the dust—crypto's underworld just got rocked.

Abacus Market, the largest Bitcoin-powered darknet bazaar, vanished without a trace this week. Poof. Gone. Funds frozen, users locked out, and a trail of furious forum posts in its wake.

Exit scam or takedown? Either way, it’s a masterclass in ‘trustless’ systems failing spectacularly.

Here’s the kicker: this isn’t even the first rodeo. Darknet markets collapsing with user funds is practically a quarterly tradition—like earnings calls, but with more handcuffs and less SEC oversight.

So much for decentralization’s moral high ground. Maybe next time, folks will remember: if it’s too good to be true on the dark web, it’s probably just another exit scam waiting to happen.

Abacus Admin Attributes Withdrawal Issues to DDoS Attack

Reports of withdrawal problems began circulating in late June, prompting Abacus’s admin, known as “Vito,” to blame the issues on a surge of new users and a distributed denial-of-service attack.

TRM Labs noted that “this behavior was consistent with known exit scam patterns seen across other darknet markets.”

Despite reassurances, users rapidly withdrew from the platform. Daily deposits plummeted from around $230,000 in June to just $13,000 between June 28 and July 10.

Abacus specialized in the sale of illicit drugs, including stimulants and psychedelics, and operated a central deposit wallet supporting Bitcoin and Monero.

After Europol shuttered Archetyp Market on June 16, many users migrated to Abacus, driving the platform’s sales to a June high of $6.3 million.

Similar growth spikes followed the voluntary closure of ASAP Market last year, with Abacus’s share of the Bitcoin-based Western darknet market rising above 70%.

TRM Labs explained, “Marketplaces that reach the top of the ecosystem… often become priority targets for law enforcement.”

Over its four years of operation, Abacus generated nearly $100 million in bitcoin sales, though the actual volume may be $300-400 million due to Monero transactions.

Abacus Market is either fedded or exit scamming, take your choice… you WOULD be a fool to continue using this market if it comes back up. pic.twitter.com/blw04aaZNZ

TRM Labs suggests the admins may have “lost motivation” or prioritized “self-preservation” over profit following Archetyp’s seizure and increased scrutiny.

There is also speculation that law enforcement may have quietly seized the marketplace, gathering evidence while withholding public statements.

However, the admin of the darknet forum Dread, closely linked to Abacus, expressed skepticism about this theory, noting that “official seizure notices have appeared months after a DNM has gone offline” in previous cases.

US Takes Down 145 Darknet Domains

In June, the US law enforcement seized crypto linked to BidenCash, the infamous dark web marketplace, accused of selling over 15 million stolen credit cards and personal data.

The international operation took down around 145 darknet and traditional internet domains associated with the marketplace.

Additionally, the DOJ recently seized over $24 million in cryptocurrency from a Russian national accused of developing and operating the Qakbot malware.