The Vanishing Act: Abacus Market’s Disappearance

Abacus Market, once the leading Western darknet hub fueled by Bitcoin transactions, has abruptly disappeared, leaving many to take a position about an exit scam. This sudden vanishing act is raising eyebrows and leaving users within the lurch.

Darknet Hub Vanishes

According to TRM Labs, Abacus Market’s website and all related infrastructure, even its clearnet mirror, have turn out to be completely unreachable. This disappearance has stirred suspicions that the market’s operators may need executed an exit scam, absconding with users’ funds, and forsaking nothing but digital dust.

Law Enforcement Pressure?

TRM Labs hints that the closure is likely to be linked to increased attention from authorities. After the shutdown of Archetyp Market in mid-June, Abacus saw a surge in activity, hitting a record monthly high. Could this newfound popularity have painted a goal on its back?

By late June, users were already sounding alarms over withdrawal problems. The market’s admin, generally known as “Vito,” tried to calm the waters, attributing the problems to a wave of recent users and a pesky DDoS attack. But as TRM notes, these are classic signs of an exit scam on the darknet.

Users Jump Ship

Despite Vito’s assurances, users began leaving in droves. Daily deposits took a nosedive, plummeting from a sturdy $230,000 every day in early June to a mere $13,000 by mid-July.

Abacus was a go-to for a wide selection of illegal substances—think stimulants, psychedelics, and unlicensed pharmaceuticals. It facilitated transactions via Bitcoin and Monero, with a central deposit wallet handling the currencies.

The Price of Success

Abacus had carved out a top spot amongst Bitcoin-based darknet markets. After the takedown of Archetyp Market, former users flocked to Abacus, boosting its June sales to a whopping $6.3 million.

The market’s share of the Western dark market ecosystem ballooned to over 70%, especially after ASAP Market’s voluntary exit and the Incognito Market’s seizure in March 2024.

TRM Labs explains that when one market falls, users normally migrate to the following big thing—especially when it’s a good platform like Abacus.

Success Comes at a Cost

Abacus’s rapid growth may need turned it into a chief goal for law enforcement. During its four-year run, the market reportedly generated nearly $100 million in Bitcoin sales. But with Monero transactions in the combination, the true figure may very well be much higher—between $300 million and $400 million.

Profit vs. Preservation

TRM Labs speculates that Abacus’s operators may need decided to tug the plug to safeguard their freedom and profits. After all, past dark market admins have managed to fade and not using a trace, choosing a quiet exit over potential legal troubles.

Law Enforcement Behind the Scenes?

There’s also a possibility that law enforcement has quietly seized Abacus, biding their time as they gather evidence. However, the admin of the dark web forum Dread, who had close ties with Abacus, casts doubt on this theory. It’s not unheard of for official seizure notices to take months to surface after a market goes dark, as was the case with Nemesis Market.