<ul><li>One of the world’s largest illicit crypto marketplace, Haowang Guarantee, has ceased operations following a major enforcement action by Telegram.</li><li>Elliptic confirmed that Haowang processed over $27 billion in transactions, primarily through the USDT stablecoin, making it the largest known illegal crypto market to date.</li><li>USDH, a stablecoin issued by the Huione Group, played a crucial role in evading sanctions and enabling high-volume transfers that were difficult to trace through traditional regulatory channels.</li><li>Telegram's crackdown extended to other platforms like Xinbi Guarantee, severely disrupting the two largest illicit marketplaces hosted on Telegram, which have processed a combined total of over $35 billion in USDT transactions.</li></ul>

World’s Largest Crypto Crime Network Collapses After Telegram Crackdown

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