Here Is One Of The First Coin Offerings (ICOs), Which Is Almost Certainly Illegal, And Not Only In Accordance With Securities Laws

hydra onion

Hydra, reportedly the largest darknet market serving Russia and neighboring countries, claims to be seeking $ 146 million through the sale of tokens to finance global expansion. Sales are scheduled to begin on December 16, according to the investment memorandum on the site, access to which is difficult without a special anonymous browser.

Tokens priced at 100$ will be available for purchase on the Bitcoin platform. The memorandum says that a “package” of 100 tokens will provide the buyer with a share of 0.00333 percent of Hydra’s profit. It does not mention which blockchain (if any) tokens will work on.

Given the illegal nature of its business, the offer of Hydra tokens may be the most arrogant in history, even compared to ICOs that put forward an envelope for US registration requirements in 2017. Forklog, a Russian news outlet, warned that selling might be fraud when leaving a business, which is a normal darknet appearance.

The claims contained in the Hydra proposal memorandum are unremarkable. Having skills in the field of security and resistance to attacks, the Hydra development team says it wants to introduce the rest of the world to its “non-contact” method of smuggling, in which the buyer, seller and courier never meet.

“A new era will begin in the West. The scale of expansion is hard to imagine,” the memorandum says.

ICO will finance the development of a new service called Eternos, described as a worldwide darknet market, combined with an encrypted messenger, crypto exchange, Tor-like anonymous browser, AI-based dispute resolution and an over-the-counter (OTC) marketplace.

No KYC, everything will be anonymous and top notch. We are not tons, the announcement says, in the draft blockchain of the Telegram messaging application, which required token buyers to pass know-your-customer test.

Hydra plans to issue 1470000 tokens, representing 46 percent of the new project, and promise monthly dividends of 500$ in bitcoins for each token if buyers receive more than 100.

This means that Hydra operators expect Eternos to generate more than 15$ million per month. “The estimate is based on Hydra’s growth rates,” the announcement said.

CoinDesk contacted several Hydra moderators listed on the site. No one answered on press time. One moderator marked the request as spam.

“Millions” of users

Hydra opened in 2015, providing a platform for illegal goods such as drugs and their ingredients, fake documents and money, as well as hacking services. According to The Project’s Russian Investigation Department, the Hydra user base exceeds 2.5 million accounts, 393000 of which made at least one purchase.

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