USDT Under Scrutiny as Telegram Dismantles $8.4B Chinese Crypto Laundering Hubs

In a significant crackdown on illicit cryptocurrency activities, Telegram has dismantled multiple channels linked to Chinese-language platforms Xinbi and Huione Guarantee. These platforms were identified as key facilitators of over $35 billion in criminal transactions, predominantly using Tether’s USDT stablecoin. The operation, which targeted Southeast Asian fraud networks, highlights the growing challenges and regulatory scrutiny facing the crypto industry. Below is a detailed summary of the developments and their implications for the future of USDT and the broader cryptocurrency market.

Telegram Cracks Down on Chinese Crypto Laundering Hubs in $8.4B USDT Operation

Telegram has dismantled multiple channels tied to Xinbi and Huione Guarantee, two Chinese-language platforms facilitating illicit transactions. Blockchain analytics firm Elliptic identified these marketplaces as conduits for over $35 billion in criminal flows, predominantly using Tether’s USDT stablecoin.

The takedown focused on Southeast Asian fraud networks leveraging encrypted messaging for scam coordination. Huione Guarantee represented merely the visible portion of this ecosystem—Xinbi Guarantee operated as a parallel multi-billion dollar marketplace for cybercriminals.

This operation underscores Telegram’s emerging significance in cybercrime investigations, particularly for stablecoin-fueled financial crimes. The platform’s removal of thousands of channels demonstrates growing pressure on crypto-enabled shadow economies.

Tether Launches QVAC to Power AI Apps with BTC and USDT

Tether, the issuer of the largest stablecoin by market capitalization, has unveiled a new initiative called QVAC. The project aims to leverage Bitcoin (BTC) and Tether (USDT) to fuel artificial intelligence applications.

The MOVE signals Tether’s strategic expansion beyond stablecoin issuance into the burgeoning AI sector. By integrating cryptocurrency with AI infrastructure, QVAC could create novel synergies between blockchain technology and machine learning platforms.

Binance Lists Nexpace (NXPC) Token with Airdrop and Futures Trading

Binance will list Nexpace (NXPC) for spot trading on May 15 at 07:30 UTC, accompanied by an airdrop campaign and futures trading. The initial circulating supply will be 169 million tokens, representing 16.9% of the total supply.

NXPC trading pairs include major stablecoins (USDT, USDC, FDUSD), BNB, and Turkish Lira. The token will temporarily appear on Binance Alpha before migrating to main spot markets, carrying the platform’s ’seed tag’ designation for newer assets.