Grey Market - Exit Scammed
The Grey Market was a darknet marketplace that launched in the summer of 2019. An element of the site’s admins apparently conducted an exit scam in December 2019, so the platform is no longer online. The registration-based market was relatively small even in its heyday, with the Grey Market having had just shy of 1,000 product offerings at its peak. Notably, this DNM was a wallet-less platform, meaning that every purchase was conducted through a new cryptocurrency address, i.e. Grey Market didn’t host wallets itself. To sell on the platform, vendors had to pay bonds worth $99 USD.
The user interface for Grey Market didn’t bear any surprises for darknet users. It offered a search dashboard, a message and support center, an affiliate marketing panel, and a settings menu. Moreover, the Grey Market was designed to support the cryptocurrencies of Bitcoin (BTC) and Monero (XMR), and its most populated product categories were drugs, fraud, and digital goods.
Notably, Grey Market currently didn’t support multisig transactions, which wasn’t ideal. Regardless, the Grey Market is and was hardly alone among DNMs in this regard. Beyond that, this DNM offered all of the other basic features you might expect, including 2FA logins, PGP communications, escrow payments, and account PIN phrases.
Grey Market’s most defining security feature was its support for the “privacy coin” cryptocurrency Monero, which allows for anonymous payments. That certainly counted for something, as several larger DNMs still don’t support Monero.
In being an exit scam, Grey Market now only lives as a piece of the history of the darknet marketplace ecosystem. Zooming out, the Grey Market was generally reliable when it was active, though it still wasn’t immune to the DDoS attacks that have been rampant in the darknet marketplace arena in recent years.