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BTCC / BTCC Square / Global Cryptocurrency /
Telegram Cracks Down on Chinese-Language Dark Markets Xinbi and Huione Guarantee

Telegram Cracks Down on Chinese-Language Dark Markets Xinbi and Huione Guarantee

Author:
Global Cryptocurrency
Published:
2025-05-14 12:17:01
5
3

Telegram has escalated its enforcement against illicit cryptocurrency markets, shuttering thousands of channels tied to Xinbi Guarantee—a Colorado-registered platform facilitating over $35 billion in USDT transactions. The move follows Elliptic’s July 2024 exposé on Huione Guarantee, another Telegram-based hub servicing Southeast Asian fraud networks, including ’pig butchering’ scams.

The platform’s cleanup disrupts darknet markets that previously operated with impunity, mirroring Tor-accessible ecosystems. While no specific coins or exchanges were named in the crackdown, the action underscores growing scrutiny of USDT’s role in cross-border crypto fraud.

|Square

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