Icarus Market has been hacked by a former co-admin according to the owner
Whenever a market exit scams, gets hacked or seized by law enforcement makes me feel very bad. It reminds me the fact that i am not doing enough to protect my readers. In last year alone more than 15 markets exit scammed in which users lost millions of dollars. Here the question arises that Is there a way to protect yourself from losing money? The answer is ‘Yes’ you can. Please read and understand every word of my article because it is very important. Today i’ll share some tips with you that are time proven and will save you from losing money in these scams.
The current state of dark web is really bad. It is passing through a dark period. Back to back exit scams have broken the trust of users in the darknet markets. Market spammer gang is still active and runs more than 5 markets including a new one called ‘Invictus Market’.
Icarus Market Situation Update
Icarus market is down for more than 48 hours now. We did saw some updates from its Head Mod ‘LaRouge’ but not from its real admins. As you all know mods don’t know about the real situation. We have seen in this in multiple cases in the past. They try to do the damage control in public and hope for the admins to comeback.
Almost 2 days ago when the market went down i sent a message to the admin of icarus market to update me of the current situation. I regularly talked with the admin and normally when i messaged him i received a reply with an hour but this time, it was different. I didnt get a reply so i kept messaging him in the hopes of receiving a reply. Today i finally received a short reply in which he told me exactly what happened to the market.
I know what you and everyone else is thinking but its not the case. I wasn’t planning an exit scam atleast for now. Me and my co admin had disagreements on how to run the market and the distribution of funds. So i kicked him out of the project and i believe he is the one that rooted our server, wiped the data, stole all the btc and is in control of our pgp key. Now even if i want to, I can’t do anything except to comeback with a new and more secure market in the future. I sincerely apologise to everyone that lost their funds.Email reply sent to us by Icarus admin
Note: Keep in mind the email used between us is the same that i used to take the interview of him.
Similarities Between Icarus & Sheep Market Exit Scam
Sheep marketplace was launched in March 2013. It was a less known marketplace but it became popular after the downfall of the original silk road in october when all of its users went to join sheep marketplace. In less than a period of 3 months it announced the closure of the market blaming a vendor hacked the market stealing 5400 btc worth $6 million at that time. Although several users reported that the market blocked all the withdrawals a week prior to the shutdown.
In the case of Icarus we see a very similar pattern. The only difference here is that co-admin steal all the funds and it happened less than a period of 1 month when all of the empire market’s users joined it. It should be noted that all of FE (finalize early) privilages of vendors were revoked 2 weeks before it happened.
What Should You do to Protect Yourself from Losing Money
These simple yet effective tips will save you from losing money big time. Its my responsibility to share best practices with you so that you know how to protect yourself from these scams in future.
- Always buy from domestic sellers and choose sellers that are experienced & have lots of feedbacks. These big sellers ship even for free after the exit scam because they can take losses and will try to retain its buyers. We have seen this happen multiple times in the past.
- Always choose fastest mode of transportation especially tracked next day delivery
- Never ever store your money in the market’s wallet. Deposit coins the same day whenever you plan to make a purchase.
- Try to make small purchases, if you ever plan to buy bulk then deal with your trusted seller and make a deal to purchase the product in multiple parts.
- Stay away from the darknet when you see multiple exit scams happening in a short period of time.
- If you are a regular buyer then vendors offer special deals for off market purchases. You can do this with trusted vendors but caution is advized.
Its clear that Icarus is gone. We think its an exit scam but according to its admin that the market was hacked. I am sorry for all of your losses. My advice to everyone is to Stay away from the darknet for a while. Its not safe at the moment and it is most likely we may see another exit scam in the upcoming weeks/months. Most of the markets are new and cannot be trusted. The best course of action will be to stay away from the scene for a few months and let the markets to become more mature then make your decision to come back and use them.
Authors: John Marsh & C.Aliens
Disclaimer: The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of the owner. Tips and analysis provided within this article are only for informational purposes. The owner is not responsible for any actions of its readers.