Bitcoin Darknet Giant Abacus Vanishes – Was It a Massive Exit Scam?

Abacus Market, once the largest Bitcoin-enabled Western DNM, has abruptly disappeared, leaving its vendors and buyers in limbo amid suspicions of a large-scale exit scam.

According to blockchain intelligence firm TRM Labs, Abacus Market went offline in early July 2025, and took down its clearnet mirror and all related infrastructure without warning.

Abacus Market’s Mysterious Disappearance

During its four years of operation, Abacus handled nearly $100 million in Bitcoin-based sales. However, the platform was hit by several user complaints in late June about stalled withdrawals.

TRM Labs said that this is a classic red flag in the darknet ecosystem, which often precedes an exit scam. The marketplace’s administrator, known as “Vito,” attributed these withdrawal issues to an influx of new users following Archetyp Market’s seizure by law enforcement and ongoing DDoS attacks.

Despite these assurances on dark web forums, many users remained skeptical. This was reflected in a sharp decline in deposits from an average of $230,000 daily across 1,400 transactions in early June to just $13,000 daily across 100 deposits by early July.

Launched in 2021 and initially known as Alphabet Market, Abacus rebranded and steadily rose in prominence. While it catered to a global audience, it particularly focused on the Australian market with tailored moderators and cultural messaging. Unlike competitors, Abacus operated with a centralized deposit wallet and multisignature capabilities while supporting Bitcoin and Monero.

Its market share grew rapidly following the closures of other major darknet markets, and climbed from 10% in 2022 to over 70% by 2024. For instance, the closure of Archetyp in June 2025 drove even more traffic to Abacus, with its monthly sales volume spiking to $6.3 million. This surge may have inadvertently sealed its fate.

TRM Labs explained that the sudden disappearance of Abacus was likely an intentional exit by its operators, who may have chosen to cash out and vanish rather than risk law enforcement attention as the market’s size and visibility increased.

The timing aligns with a pattern observed in the darknet ecosystem, where markets that reach peak prominence often face a choice between risking seizure and preserving personal safety and profits.

While it remains possible that law enforcement seized Abacus covertly, Dread forum administrator Hugbunter, who maintained close contact with the project’s staff, believes the shutdown was not linked to an official takedown.

Historically, darknet administrators who exit at the height of their market’s popularity, whether through exit scams like Evolution Market or voluntary closures like Agora Market, have largely evaded law enforcement capture.

Russian Darknet Markets Rise

TRM Labs also noted that despite major darknet platforms shutting down, the ecosystem continues to adapt quickly. After Hydra Market’s 2022 closure, new Russian-language darknet markets emerged and have managed to capture over 97% of global darknet drug revenues by 2024.

While some Western darknet operators have tried rebrands or exit scams post-seizure, complete marketplace rebuilds now appear less frequent.