Home News Major Darknet Marketplace shuts down after theft of $1 billion Bitcoin

Major Darknet Marketplace shuts down after theft of $1 billion Bitcoin

by Blessing Ubani
Major Darknet Marketplace shuts down after theft of $1 billion Bitcoin

A major darknet marketplace known for stealing credit cards on the darknet has announced shutting down its services. According to a recent report from the administrator Jokerstash, he said “It’s time for us to leave forever”

Stash’s users will be allowed to use up their account balances before the admin proceeds to wipe all servers and backups. Jokerstash made it clear that they will “never ever open again”. However, he didn’t provide the reason or motivation behind the closure. 

The site has been one of the most profitable marketplace on the darknet to have generated over $1 billion in bitcoin(BTC) revenue, stated the report.

Gemini Advisory has some hypotheses to say over the closure announcement. “This actor was likely to be among the wealthiest cybercriminals, and the spike may have multiplied their fortune, earning them enough money to retire. however, the true reason behind this shutdown remains unclear.

Over the past year, Gemini Advisory disclosed that the darknet acquired over 40 million new stolen card records, most of them from a physical transaction at a point-of-sale. 

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