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BTCC / BTCC Square / Global Cryptocurrency /
Telegram Shuts Down Major Illicit Crypto Marketplace Following Elliptic’s Investigation

Telegram Shuts Down Major Illicit Crypto Marketplace Following Elliptic’s Investigation

Author:
Global Cryptocurrency
Published:
2025-05-15 10:31:01
8
1

Telegram has dismantled Haowang Guarantee, an underground marketplace formerly known as Huione Guarantee, after blockchain analytics firm Elliptic revealed its $27 billion stablecoin transaction volume since 2021. The shutdown coincides with a broader purge of Chinese crypto-crime channels on the platform.

Elliptic’s Wednesday report confirmed the termination of both Huione and Xinbi Guarantee—two platforms that collectively processed $35 billion in illicit stablecoin flows. "Huione’s $27 billion volume made it the largest darknet-style marketplace we’ve traced," the firm stated, underscoring the scale of operations.

|Square

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