Massive Theft Alleged At Incognito Darknet Market
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This has led to increased speculation a couple of attainable "exit scam" by the platform's operators.
The estimated worth of Incognito Market ranges between $10 million and $30 million, as reported by Dark Web Informer. User complaints intensified on March 5, pointing to failed attempts to withdraw cryptocurrencies, stirring issues over the directors' intentions.
Incognito's administrator, generally known as "Pharoah," tried to mitigate user concerns on Dread, a darknet forum similar to Reddit, attributing the withdrawal issues to latest system updates. Despite these assurances, persistent withdrawal issues and a subsequent post by notable darknet determine Hugbunter have substantiated fears of an exit rip-off.
Hugbunter reported a conversation with "Pharoah," where a bribe was allegedly provided to downplay the scenario on Dread, thus verifying the suspicions of an exit rip-off. Hugbunter's subsequent warnings on Dread and Reddit aimed to forestall further user losses.
The timing aligns with the Chainalysis 2024 Crypto Crime Report, which notes a resurgence in darknet market revenues in 2023, following the shutdown of Hydra, the previously dominant market. The panorama now sees smaller platforms like Mega Darknet Market filling the void, every carving out its area of interest in the underground financial system.
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