Bitcoin Drops More Than 4% – The U.S. and Germany Shut Down the Darknet “Hydra Market”

Bitcoin continues to head towards the $40,000 mark. Today (April 7) Bitcoin fell 4.70% and moved at $42,061.82.

Bitcoin moved into negative territory this morning after the Dow closed 144 points lower on Wednesday after Federal Reserve officials encouraged the Federal Reserve to raise interest rates. In addition, by accelerating the reduction of the balance sheet to curb inflation, investors are concerned that will affect economic growth.

  • The Dow Jones Industrial Average fell 144.67 points, or 0.42%, to close at 34,496.51.
  • The S&P 500 was down 43.97 points, or 0.97%, to close at 4,481.15.
  • The NASDAQ fell 315.35 points, or 2.22%, to close at 13,888.82 points.

Movements in the Crypto Market

The U.S. and Germany shut down the darknet “Hydra Market” and seize $25 million worth of Bitcoins.

On Tuesday, US and German law enforcement agencies disclosed the closure of Hydra Market, the world’s largest and longest-running darknet market. As of 2021, Hydra represented an estimated 80% of all cryptocurrency transactions related to the darknet market, and since 2015, the marketplace has received approximately $5.2 billion in cryptocurrency.

In cooperation with U.S. law enforcement, the Federal Criminal Police Office seized Hydra’s servers and cryptocurrency wallets in Germany this morning, holding $25 million worth of Bitcoin.

“The Department of Justice will not allow darknet markets and cryptocurrency to be a safe haven for money laundering and the sale of hacking tools and services. Our message should be clear: we will continue to go after darknet markets and those who exploit them. Together with our partners in Germany and around the world, we will continue our work to disrupt the ecosystem that allows these criminal actors to operate,”

said Deputy Attorney General Lisa O. Monaco.

According to the IRS, Hydra was an online marketplace that made it possible for users, primarily in Russian-speaking countries, to anonymously buy and sell illicit goods and services beyond the reach of law enforcement, including illegal drugs, stolen financial information, fake identity documents, and money laundering and blending services. All transactions on Hydra were conducted in cryptocurrency. Hydra’s operators charged a commission for each transaction conducted on Hydra.

In addition, it is reported that the United States and its allies are preparing to announce the suspension of energy imports from Russia.

The Spot Market is Open

Thursday, April 7, 2022

Crypto
Updated at
USD
Price

Change

%Change
13.40 BTC43,460.98-640.76-1.45
13.40 ETH3,216.83-38.20-1.17
13.40 LTC112.88-3.43-2.95
13.40 BNB430.89+4.44+1.04
13.40 XRP0.780.00-0.05
13.40 ADA1.07-0.03-2.28
13.40 DOT20.22-0.04-0.20
13.40 DOGE0.150.00-3.20
13.40 UNI10.10-0.24-2.32
13.30 LINK15.58-0.18-1.14

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