Abacus Market, the largest Western darknet marketplace supporting Bitcoin payments, has shut down its public infrastructure in a move suspected to be an exit scam.
Exit scams occur when the operator of a marketplace decides to vanish with the money they hold in escrow for various transactions between platform users.
Blockchain intelligence firm TRM Labs reports that Abacus shutting down so abruptly has all the indications of either an exit scam or a covert law enforcement operation dismantling the activity.
Historically, there have been “silent” takedowns that weren’t accompanied by announcements from the authorities, to allow investigations to continue unobstructed and gather more incriminating evidence or identify accomplices.
The Abacus Market frontpage advertising illicit substances
Source: TRM Labs
Leading force
Abacus launched in September 2021 as ‘Alphabet Market,’ and gradually increased its popularity, especially as the number of other markets on the dark web dwindled, mostly as a result of law enforcement actions.
In 2022, Abacus was used by 10% of the users on Western darknet markets. It grew to 17% in 2023 and reached a leading status of 70% last year.
Abacus dominating the market share in 2024
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