Incognito Market, a significant darknet marketplace primarily known for narcotics trading, is allegedly involved in an exit scam, leaving users unable to withdraw their Bitcoin (BTC) and Monero (XMR). Reports indicate that the marketplace, valued between $10 million to $30 million, faced growing accusations from users about failed crypto withdrawals, leading to concerns of a potential exit scam. Despite initial explanations from Incognito’s administrators, including “Pharoah” on the darknet-based site Dread, about changes in withdrawal systems, suspicions continued to rise.
A post on Dread from Hugbunter, a known dark web security sleuth and administrator, claimed to confirm the exit scam after discussions with Incognito’s administrator. Hugbunter mentioned being offered a bribe to remove any Dread posts about Incognito, solidifying suspicions of fraudulent activities. This alleged exit scam comes at a time when Bitcoin recently surpassed its previous all-time high, reaching over $69,200, and Monero experienced gains, reaching a 7-day high of $151.74. The incident highlights the ongoing challenges and risks associated with cryptocurrency transactions on darknet markets.
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