Another Dark Web Crypto Takedown and Exchange Closure
Kazakhstan’s monetary crime company has dismantled the RAKS crypto trade, accusing it of laundering tens of millions by way of darknet marketplaces.
Authorities froze 67 wallets holding practically 10 million USDT and linked the platform to $224 million in illicit flows.
Crypto’s Day In The Dark Web Could Be Over
Throughout this yr, a number of regulation enforcement efforts have been made to close down darkish net crypto marketplaces. In June, the DOJ and Europol collaborated to close down one of many largest Monero-based darknet markets.
Also, authorities took down one of many biggest fentanyl markets on the dark web with the assistance of Binance.
This week, the newest motion got here from Kazakhstan, because the authorities took down the RAKS crypto trade.
The trade operated in secrecy for 3 years. Investigators say it labored with greater than 200 drug retailers and collaborated with 20 of the biggest darknet markets.
The company stopped in need of naming these markets. However, the ecosystem context factors to well-known Russian-language platforms that stuffed Hydra’s void—comparable to Mega, Blacksprut, Solaris, Kraken, and OMG!OMG!.
Signs of collapse emerged earlier than the crackdown. RAKS’ social media accounts vanished, buyer assist shut down, and discussion board posts flagged unpaid obligations.
Observers now view these as early warnings of its demise.
Unlike regulated platforms, RAKS by no means disclosed homeowners, licenses, or audits. No proof of partnerships with reliable corporations exists.
Instead, its “affiliations” had been reportedly with darknet marketplaces that relied on it for laundering and liquidity.
The case highlights an outdated sample: shadow crypto exchanges that seem steady however function conduits for unlawful markets.
Once uncovered, they vanish in a single day, leaving customers locked out of funds and regulators scrambling to hint flows.
The RAKS takedown follows a broader development of concentrating on illicit exchanges in Eurasia.
After Hydra’s 2022 shutdown, a fragmented market emerged, creating recent demand for laundering channels. Exchanges like RAKS match that hole till enforcement caught up.
The publish Another Dark Web Crypto Takedown and Exchange Closure appeared first on BeInCrypto.
