The AlphaBay Chronicle: An In-Depth Account of the Dark Web's Most Infamous Brand

Overview

AlphaBay, known as the 'Amazon of the Dark Web,' marked a significant era. Its timeline is divided into two distinct phases: the era under founder Alexandre Cazes, which concluded with his tragic suicide, and the resurgence led by 'DeSnake,' which ultimately ended in theft.

Act I: Alpha02 (2014-2017)

Established by Alexandre Cazes ('Alpha02'), AlphaBay became a leading force in the market. Nevertheless, a minor OpSec mistake—utilizing his personal email `[email protected]` in welcome messages—resulted in the FBI locating his residence in Bangkok.

Operation Bayonet

In July 2017, law enforcement conducted a raid on Cazes, discovering that his laptop was unencrypted and logged in. Subsequently, Cazes took his own life while in custody in Thailand.

Act II: The Return of DeSnake (2021)

In 2021, the original security administrator 'DeSnake' verified his identity through PGP and reintroduced AlphaBay with an emphasis on Monero and I2P.

Emerging Protocols

The Ultimate Breakdown (2023)

In the beginning of 2023, the market executed a 'soft' exit scam. DeSnake disappeared, 'AlphaGuard' was unsuccessful, and funds were drained. The website ultimately became offline permanently.

Result

DeSnake is suspected of having misappropriated user funds. The brand is now defunct.

Examination

AlphaBay highlights the vulnerability of centralized markets: the administrator serves as the sole point of failure. Regardless of whether it is due to legal issues or personal avarice, the user ultimately suffers the consequences.