A major online black market for crypto scammers and money laundering operations on Telegram has been shut down thanks to investigative efforts and platform bans. The marketplace facilitated over $27 billion in illicit transactions before its closure.
Affected: Telegram, Huione Guarantee, Haowang Guarantee, Xinbi Guarantee, Tudou Guarantee, crypto scam operators, illicit financial systems.
Affected: Telegram, Huione Guarantee, Haowang Guarantee, Xinbi Guarantee, Tudou Guarantee, crypto scam operators, illicit financial systems.
Keypoints
- The largest crypto black market on Telegram has been dismantled through platform bans and investigations.
- Huione Guarantee and Haowang Guarantee facilitated billions in illicit transactions, primarily involving money laundering.
- Researchers linked these markets to criminal activities including data theft, harassment, sex trafficking, and the use of deepfakes.
- Despite the takedown, operators are attempting to relaunch on new channels or alternative platforms.
- Telegram’s enforcement against these marketplaces may face limitations if operators migrate to less regulated or decentralized services.