Most traders in the entire Financial system are concerned about how to rake in profit from any investment they deal in. With Bitcoin, there is no difference as traders have always been triggered to invest during a bull cycle. With most traders investing during a bullish run, they prefer to take both their capital and profits are the end of every cycle.
With this in mind, Jokers Stash has announced that it will halt activities on the back of several profits that the firm recorded during the bull run. Giving the details into the dark web platform’s shutdown, Gemini Advisory, a cybersecurity firm, mentioned that the platform is looking to close down activity by the end of the month.
The platform encountered several problems last year
In their statement, Gemini Advisory said that the dark web market owner made his intentions to retire known in an earlier statement that he released. Even though the owner of Jokers Stash refused to mention why he was shutting down the platform, the cybersecurity outfit feels he has gotten enough proceeds from leading digital asset, Bitcoin’s rally. With the recent rally that took place, the malicious actor’s stash of Bitcoin would have grown significantly, giving him the leeway to shut down the platform and enjoy his proceeds.
In the statement of the owner of the platform, he mentioned that the platform is now popular even though when it launched years ago, no one knew them. Furthermore, he has asked the partners of the dark web platform to make contact and arrange how they will be rewarded with their profits over the years. The platform has been in existence for seven years, after they made their debut in the dark web in 2014, and have generated nothing less than$1 billion in total revenue over the years.
The dark web platform saw a profit of $40 million in 2020
The cybersecurity firm noted that 2020 was a good year for the dark web platform as they saw about $40 million added to their treasury. Most of the proceeds were said to be from major hack attacks that took place last year.
The platform ran into a block sometimes last year when users complained that most of the card data were wrong while others had low quality. Asides from complaining that came internally, the darknet platform was facing various outside trouble with their scuffle, with the FBI a major setback to their services.
The FBI had one over the firm last year when it took possession of some of the dark web platform’s blockchain. Despite the setbacks, Jokers Stash was not deterred as it made a massive comeback to establish its place as one of the biggest dark web platforms.
The site also soon suffered another setback when the lead admin said that he had fallen sick from the novel coronavirus; this single news dropped the number of users on the platform by a huge mile. Even though the platform is planning to stop its activities, the dark web still has numerous platforms that carry out illicit activities.