Online Black Marketplace Agora is Ceasing Operations

This last Tuesday, Agora announced it was halting their operations. The online black marketplace revealed that due to security concerns the site administrators decided to cease the market operations. However, contrary to what the community is used to see Agora is calling upon its users to finish up transactions in a timely manner before it closes down.

Agora is an online black market or underground economy market in which goods or services are traded illegally. The goods or services themselves may or may not be illegal to own, or to trade through other, legal channels. Because the transactions are illegal, the market itself is forced to operate outside the formal economy by using cryptocurrencies to avoid the authorities’ scrutiny and tight control.

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Black markets have online counterparts consisting of darknet market websites such as Agora, individual websites, forums and chat rooms. While overlaps exist, the online markets are focused on specific areas including drugs, compromised credentials, malware, digital goods and weapons. Common motives for operating in black markets are to trade illegal goods, avoid taxes, or skirt price controls or rationing.

Unlike the Silk Road collapse, Agora

Read more ... source: TheBitcoinNews