The Beginning And End Of The Evolution Market

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Tor network was a black marketEvolution Market, operating on the Tor network was a black market site on the darknet which sold illegal products, including marijuana, ecstasy, heroin, malicious hacking services and stolen credit cards. Evolution, launched on January 14, 2014, recorded explosive growth within the first few months of its inception itself.

The rapid growth of the marketplace in part was fueled by the shutdown of Silk Road 2.0 in November 2014. The Evolution Market emerged as the online bazaar to go to for sellers and buyers of illicit goods because of the better security they offered and more lax rules they adopted in the case of frauds and stolen credit cards when compared to competitors such as Silk Road among others.

Evolution Market operated on the basis of an escrow system which allowed sellers and buyers to confidently and successfully carry out transactions of illicit goods. However, this also meant that the administrators of the Evolution Market had direct access to a temptingly large amount of currency that is virtually untraceable.

Evolution Market dealings were all carried out through the cryptocurrency “Bitcoin”. It is difficult to trace cryptocurrencies because clear records are never maintained as in the case of conventional or standard bank transactions.

cryptocurrency “BitcoinEvolution closed down its operations suddenly on March 18, 2015 in what is referred to as an exit scam. The administrators of the Evolution Market, Verto and Kimble, shut down abruptly and allegedly stealing users’ money (estimated to be $12 million of bitcoins at that point) available in the escrow accounts. Initially, the administrators blamed the delays in processing to the huge withdrawal requests they received and said that the issues would be fixed within a time frame of 24 hours. However, prior to the 24 hours deadline, even the Evo community forum went offline.

After the closure of Evolution, buyers and sellers of illicit goods are now likely to turn to Agora Marketplace which continues to survive.

 

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