Regulators are introducing more and more restrictive measures against the crypto market because the anonymity of digital coins allows them to be used for money laundering, terrorist financing and the purchase of prohibited goods such as drugs and weapons.
And not for nothing, because trends in this direction are growing fastly, and every day the number of people using crypto in violation of the laws of their country is increasing. But some of them do not feel any fear at all and they brazenly announce their entry into the international area.
Hydra-Russia’s largest drug market-announced an IСO to raise $150 million and enter the international market, promising investors a payback within six months and a permanent share of profits. Aware of the superiority in the homeland market, they decided to aim for more — to enter the international market and arrange a drug darknet monopoly across the planet.
The loud statement of Hydra immediately attracted the attention of Europe and greatly concerned the US, because such a thing has never happened in the world’s history. And for good reason, because such impudent this planet hasn’t seen it yet. Just imagine if, for example, Pablo Escobar would run an IPO announcing the entry into the markets of the whole planet. Sound crazy, yeah? Not for the guys in the crypto industry.
Another illegal service and forum called «WWH» — the biggest Russian community of carders, in other words, hackers and identity thieves which provide all kinds of forbidden services — such as stilling money from bank accounts to email hacking. The list of criminal services they provide is simply shocking. A few days ago they announced to run public fundraising. What it would be, another supercriminal ICO like Hydra or just simple fundraising from there user base — we don’t know yet. But it becomes obvious that such activities in the criminal world become a new trend and it’s frightening.
The technical side of such ICO’s would look like a new round of development in the field of privacy, if not for the activities of WWH and Hydra, contrary to the law and moral principles. Such an initiative rather threatens and damages the entire crypto industry. Because even without Hydra reaching the international level, in 2019 users of the darknet spent about $1 billion in bitcoins on the purchase of prohibited goods. This is a problem that the authorities cannot solve. And ICO’s like Hydra and WWH only add fuel to the fire, forcing governments of different countries to strengthen restrictive measures, which may one day result in a complete ban on ICO’s (as now in China) or even in criminal liability for the use of digital assets.
CLS team strongly recommends not investing in Hydra or WWH ICO and not supporting the drug trade nor hacker fraud. It is better to seek the development of privacy and acceptance of cryptocurrencies by other, legal methods.
