I think a lot of these problems are that it was an illegal market with people probably using a properly secured TOR connection so that they couldn't be traced. They got bored of what they were doing and said "HOLY SHIT, there's 12 million here, untraceable" so instead of the normal walk away, they took the money and walked away. You are going to run into this in any illegal venture, with untraceable currency, where the operator is unknown. Anyone shocked by this needs to give their head a shake. Don't drop a crap ton of money, to someone you don't know, who has no real incentive to help you out. You don't even need a regulatory body, just someone you can hold accountable. You are never going to get someone to hold accountable in a market like that because, well they will be held legally accountable as well.