Market News

Russia's Darknet Marketplace Debuts Memecoin on Solana

Today, a Russian darknet marketplace known for illegal drug sales launched its official memecoin, MoriCoin, on the Solana blockchain.

This unexpected development was highlighted by cybersecurity researcher Vladimir S., who uses the handle @officer_cia on X.

He reported that the marketplace, which operates behind layers of encryption, seems to be active based on user feedback and reviews.

The pseudonymous owner, Professor Moriarty, also manages a popular Russian-language YouTube channel with over 3.2 million followers, focusing on crime themes and drug culture.

Marketing for such illicit enterprises is typically constrained, prompting MoriCoin to leverage the existing YouTube audience to gain traction.

With an active Telegram community of over 35,000 members, the project provides new users with straightforward guidance on how to engage with the crypto economy.

Holders of the coin are enticed with promises of exclusive rewards and direct chat access to the Professor, resembling traditional marketing offers.

Immediately after launch, MoriCoin’s market capitalization soared to nearly $50 million but subsequently halved.

Currently, around 7,000 holders are vying for trading opportunities on Solana’s Jupiter exchange, with liquidity estimated at $600,000.

Despite efforts to regulate the cryptocurrency landscape, incidents like this highlight that the sector still embraces its chaotic roots.