<ul><li>Telegram shut down the darknet marketplace Haowang Guarantee, formerly Huione Guarantee, following its clampdown on associated accounts and channels on May 13.</li><li>Haowang Guarantee was involved in billions of dollars worth of illicit crypto transactions and was known for enabling online fraud, cybercrimes, and large-scale cryptocurrency laundering.</li><li>Blockchain company Elliptic identified over $27 billion in contraband crypto-transactions linked to Haowang Guarantee, predominantly processed through Tether stablecoin.</li><li>Despite the closure of Haowang Guarantee, another darknet market named Xinbi Guarantee has emerged on Telegram, conducting $8.4 billion in crypto transactions primarily through stablecoins.</li></ul>

Telegram Silently Dismantles $27B Darknet Giant Haowang Guarantee

Discover more