- Hydra to launch a decentralized transnational platform using ICO fundraising.
- It is the largest marketplace selling narcotic substances, counterfeit money, and other prohibited goods and services.
The Hydra market place is posing a threat to overwhelm the dead market for token sales. Site managers have announced plans to conduct an ICO as a way for fundraising for a transnational platform of prohibited goods.
Hydra plans to invest the funds in the building up of an anonymous AspaNET network, a service for creating HatchService gateways and Global point cryptocurrency exchange forums.
According to resources, 49% of the tokenized share of the project is up for sale. Developers have shown their dislike towards these projects and this initiative has already grasped the attention of law enforcement bodies.
In case, they move ahead with this project, the developers will, in the first place, endanger the users of the service, as stated by an anonymous law enforcement source. According to law enforcement agencies, these activities are equivalent to the dissemination of malicious computer programs causing severe crimes.
He also added that, in the Russian Federation, there is no legislative responsibility for investing in ICOs. However, due to the ever-increasing cyber crimes and given the state initiatives to fight against drug trafficking, it is most likely that financing will be prosecuted by analogy with the financing of terrorism. But the source has also confirmed that Hydra representatives assisted in closing up of darknet sites RAMP, iKLAD, BlackMarket, and Solaris.
According to the representative of the Internet protection Society Alexander Isavnin, such market place initiatives point at the backwardness of law enforcement agencies towards modern technologies.
Since, blockchain mechanism is a decentralized, digging up of ICOs of banned sites is possible allowing Hydra investors to remain in the background said Roman Yankovsky, an adviser to Tomashevskaya & Partners, member of the Commission for the Legal Support of the Digital Economy of the Moscow branch of the Russian Bar Association.
Sarcastically, the officials of the crypto exchanges stated that the Hydra campaign reminded them of trolling the Telegram messenger with its TON blockchain forum.
Hydra representatives said that a large-scale investigation of the Lenta.ru news publication about their opposition to the RAMP marketplace was an advertising campaign with no legit causes.
In turn, the chief editor of “Lenta” Vladimir Todorov said that the “so-called” initiatives of Hydra “do not contain a single word of credibility” and mainly aimed at causing problems with the law enforcement bodies for his publication.