U.S., German Authorities Shut Down Largest Darknet Market

U.S. and German officials have seized what they described as the world’s largest and most prominent darknet market, which traffics in illicit goods and services.

The Hydra Market’s servers were shut down and cryptocurrency wallets containing $25 million worth of Bitcoin were confiscated by German police on Tuesday. The U.S. Department of Justice announced criminal charges against Dmitry Pavlov, a 30-year-old Russian resident, for conspiracy to distribute narcotics and conspiracy to commit money laundering in connection with his operation and administration of Hydra’s servers.

The U.S. Treasury Department, meanwhile, announced sanctions against Hydra Market, and a “ransomware-enabling” virtual currency ...