Washington, July 15, 2025 — According to the latest report from TRM Labs, Abacus Market, the largest Bitcoin-driven darknet market in the West, has gone offline, suspected of executing an "exit scam." Its website and infrastructure, including the clearnet mirror, are no longer accessible. TRM Labs believes that the operators of Abacus Market may have shut down the platform and absconded with user funds. This incident may be related to law enforcement's attention and recent dramatic changes in the darknet market landscape.

Signs of an Exit Scam

Abacus Market experienced a peak in monthly trading volume, reaching $6.3 million, after the closure of its competitor Archetyp Market (one of the longest-running darknet markets) by Europol in mid-June. However, by the end of June, users began reporting issues with withdrawing funds. The manager of Abacus Market, "Vito," attempted to reassure users, claiming that the withdrawal issues were merely temporary difficulties caused by a surge in new users and distributed denial-of-service (DDoS) attacks. However, TRM Labs pointed out that this behavior aligns with the common exit scam patterns seen in previous darknet markets. Despite Vito's efforts to stabilize user sentiment, users continued to withdraw en masse. For most of June, Abacus Market's average daily deposits were around $230,000, but from June 28 to July 10, the average daily deposits plummeted to $13,000.

Market Background and Impact

Abacus Market offered illegal goods, including stimulants, psychedelics, and unlicensed drugs, supporting centralized deposit wallets for Bitcoin (BTC) and Monero (XMR). Over the past four years, Abacus Market generated nearly $100 million in revenue through Bitcoin transactions, but TRM Labs estimates that if Monero transactions are included, its total trading volume could reach $300 million to $400 million.

The rise of Abacus Market is closely related to the exit of its competitors. In July 2023, after ASAP Market voluntarily closed, Abacus's trading volume increased by 20%. In March 2024, after Incognito Market was shut down by law enforcement, Abacus's share in the Bitcoin-supported Western darknet market ecosystem surged to over 70%. TRM Labs stated that when a large darknet market shuts down, users typically flock to the next available platform, especially a large and reputable market like Abacus.

However, its high-profile success also made it a prime target for law enforcement. TRM Labs noted that markets with peak trading volumes, user bases, product listings, and reputations are often more susceptible to law enforcement actions.

Exit Scam or Law Enforcement Action?

TRM Labs speculates that the operators of Abacus Market may have chosen to exit to "preserve their freedom and financial gains" due to the heightened attention following the closure of Archetyp Market and the surge in new users. Previously, administrators of markets like ASAP Market and Agora Market successfully evaded law enforcement by voluntarily exiting, while Evolution Market executed an exit scam.

Another possibility is that Abacus Market has been secretly shut down by law enforcement, but authorities have not yet disclosed the details of their actions to gather evidence and track related individuals. However, the administrator of the darknet forum Dread, closely connected to the Abacus team, expressed skepticism about the likelihood of law enforcement action. TRM Labs added that cases like Nemesis Market show that official closure notices may be published months after the market has gone offline.

The Fragile Ecology of Darknet Markets

The closure of Abacus Market reflects the turbulent landscape of Western darknet markets. TRM Labs analyzes that operators may choose to exit due to ongoing law enforcement pressure or a loss of motivation to continue operations. Regardless of the reason, the disappearance of Abacus Market has dealt another blow to user fund security and trust in darknet markets.

The suspected exit scam incident involving Abacus Market highlights the fragility and high-risk nature of darknet markets. With increasing regulatory scrutiny from law enforcement and the potential selective exits of market operators, the darknet ecosystem is facing unprecedented challenges. For users relying on such platforms for transactions, fund security and platform credibility remain significant concerns. In the future, the direction of darknet markets will depend on the progress of law enforcement actions and users' trust transfer to new platforms.

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