September 23, 2020

Darknet exchange AlphaBay administrator pleads guilty in a court

2 min read

Herrell, a 25-year-old from California, is an administrator of the well-known dark web exchange AlphaBay, mainly responsible for the handling of certain trading disputes.

The well-known darknet exchange attracted a large number of cybercriminals to trade, but in 2017 Interpol announced that it had successfully destroyed the exchange.

At the same time, a large amount of server data and management data were also obtained by law enforcement agencies, and all traders, founders, and administrators related to the exchange were arrested.

Herrell is one of the main administrators of the darknet exchange, and usually responsible for helping buyers and sellers resolve certain disputes in darknet transactions.

When there is a dispute, Herrell will participate in and coordinate the resolution of the dispute. According to statistics, Herrell has settled up to 20,000 dark web buyer and buyer disputes.

Of course, after resolving the dispute, Herrell will receive a corresponding proportion of the transaction amount as a service fee, and the service fee is paid to Herrell’s account in virtual currency Bitcoin.

After a long arrest, Herrell finally decided to plead guilty, but there is no word yet whether Herrell’s confession has reached some specific agreement with law enforcement agencies or the court.

The court believes that Herrell as an observer of fraud will also monitor attempts by exchange users, help many cybercriminals and contribute to more crimes.

According to U.S. law, Herrell will face up to 20 years in prison, and the specific sentencing will need to be decided by the US federal court on May 18.

It is reported that AlphaBay, which was established in 2014, has attracted hundreds of thousands of dark web traders to participate.

Via: bleepingcomputer