Analysis Cryptocurrency exit scams and legislation enforcement seizures have dealt another blow to the customers of underground darknet marketplaces with the fall of Empire Market - though there’s nonetheless no scarcity of candidates poised to take its mega market darknet place.

Empire Market ceased trading in August following a suspected exit scam. Its efficient removal from the scene follows regulation enforcement takedown of its predecessors together with Silk Road, AlphaBay, and Hansa.

Dream Market, another major marketplace that shut up store in March 2019, was additionally bedeviled with rumors of law enforcement infiltration after the seizure of AlphaBay and Hansa as a part of Operation Bayonet in July 2017.

Wretched hives of villainy

Even before the newest ructions at the hours of darkness internet market, some security researchers reckoned there were signs that drug sellers and other digital underground denizens had been already migrating to other platforms, together with ‘anonymous’ mobile messaging apps similar to Telegram and Wickr.

However, threat intel agency Digital Shadows argues that there’s nonetheless a need for a underground equivalent of eBay - not least because potential options fail to scale something like in addition to people who function under the tried-and-examined net-based mostly mannequin.

Digital Shadows told The Daily Swig: "There will inevitably be a small portion of cybercriminals that may transfer to alternative platforms bored with the continuing exit scams, and who've a longtime buyer base and can trust their buyers to follow them to an alternative format."

"However, as a result of large reach that marketplaces supply, the majority of distributors will continue to undertake the platform understanding previous and new patrons will possible already be registrants waiting to proceed their enterprise transactions," the security firm added.

Scoping out the competitors

Alternative buy-and-sell platforms include their very own points for cybercriminals, who may be cautious of using technology that’s designed and run by civilians for non-illicit purposes.

"By trusting a authentic third-get together application’s encryption and anonymity policies, risk actors are inserting their belief in non-criminal entities," Digital Shadows said in a darknet deep dive published this week.

"Compare this to forums or marketplaces whose administrators have a vested interest in maintaining the last word safety and anonymity levels."

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As well as, it’s typically harder to market products or seek for related listings on the disparate channels or groups that messaging platforms provide.

"Essentially, it is way simpler to run a search on a market or know which you can advertise your merchandise to a marketplace’s entire consumer base as a vendor, so it's envisaged that the migration of each consumers and distributors away from the marketplace format will probably be minimal until an alternate can viably provide the benefit of performance that marketplaces present."

Heir to the underground throne

If underground marketplaces are seemingly to stay, it begs the question: Which platform may fill the vacuum left by the exit of Empire Market from the scene?

Digital Shadows has put together a matrix that tracks the deserves of varied contenders:

Darknet market leaders: Digital Shadows has compiled a list of potential successors to Empire Market

In accordance with a information printed on the dark web group forum Dread, any marketplace that’s value its salt ought to have compulsory multisig, PGP-based mostly verification, and competitive vendor registering and listing rates, among different options.

The dark internet group appreciates options that improve safety and users’ anonymity, however a lot of listing and simple fee options are additionally a factor.

Not unlike a racing tipster, Digital Shadows finds advantage in the varied runners and riders within the underground market stakes.

"Dark0de Reborn, Canada HQ, Monopoly Market, The Versus Project, and ToRReZ market match the Dread guide’s standards for his or her use of multisig and stopping the danger of exit scams like Empire," based on Digital Shadows.

"However, Icarus Market has at the very least three times the number of listings on each platform, with over 35,000 listings as of September 2020."

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Meanwhile "Monopoly and White House Market fee highly on their method to security and their strict use of Monero", according to Digital Shadows.

However, Monopoly and White House Market can only boast 22,000 listings between them, despite having launched eight months earlier than Icarus, which surfaced in April 2020.

Although the momentum is with Icarus, the market is beset by rumours is would possibly fall victim to an exit scam, where its principals take funds supposedly stored in escrow and scarper. These rumours might themselves have been put about by rival operators, Digital Shadows notes.