{"id":26896,"date":"2025-05-15T10:01:48","date_gmt":"2025-05-15T10:01:48","guid":{"rendered":"https:\/\/dogewisperer.com\/telegram-shuts-down-largest-illicit-online-marketplace-after-elliptics-insights\/"},"modified":"2025-05-15T10:01:48","modified_gmt":"2025-05-15T10:01:48","slug":"telegram-shuts-down-largest-illicit-online-marketplace-after-elliptics-insights","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=26896","title":{"rendered":"Telegram Shuts Down &#8216;Largest Illicit Online Marketplace&#8217; After Elliptic&#8217;s Insights"},"content":{"rendered":"<div>\n<p>Telegram has shut down the illicit marketplace Haowang Guarantee, formerly Huione Guarantee, which has facilitated transactions totaling over $27 billion in stablecoins since 2021.<\/p>\n<p>Haowang was shut down based on insights provided by blockchain analytics firm Elliptic on Tuesday.<\/p>\n<p>The closure took place amidst <a href=\"https:\/\/www.coindesk.com\/business\/2025\/05\/14\/telegram-cracks-down-on-suspected-8b-chinese-crypto-crime-marketplace-set-up-in-colorado\">a crackdown on thousands of suspected Chinese crypto-crime channels operating on Telegram<\/a>, following Elliptic&#8217;s report into marketplace Xinbi Guarantee.<\/p>\n<p>Telegram has now shut down both Huione and Xinbi, which processed a combined $35 billion of illicit transactions in stablecoins, <a href=\"https:\/\/www.elliptic.co\/blog\/elliptic-data-telegram-market-takedown\">Elliptic wrote in a web post on Wednesday<\/a>.<\/p>\n<p>&#8220;Our analysis indicates that Huione Guarantee has facilitated transactions totalling more than $27 billion since launching in 2021, making it the largest illicit online marketplace to have ever operated,&#8221; Elliptic wrote.<\/p>\n<p>Xinbi was the second largest, having processed transactions worth $8.4 billion since 2022, Elliptic added.<\/p>\n<p>For perspective, notable &#8220;dark web&#8221; marketplaces such as the Silk Road and Alphabay processed $216 million and $639 million respectively.<\/p>\n<p>Such marketplaces historically operated through anonymous browser Tor, but have more recently shifted their operations to Telegram, the messaging app with over a billion users.<\/p>\n<p>Huione and Xinbi are referred to as &#8220;guarantee&#8221; marketplaces, a term designated for platforms that do not sell goods and services themselves, but provide a venue for merchants to sell to customers.<\/p>\n<p><strong><em>Read More: <a href=\"https:\/\/www.coindesk.com\/policy\/2025\/04\/11\/1-in-5-cross-chain-crypto-investigations-involve-more-than-10-blockchains-elliptic-finds\">1 in 5 Cross-Chain Crypto Investigations Involve More Than 10 Blockchains, Elliptic Finds<\/a><\/em><\/strong><\/p>\n<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Telegram has shut down the illicit marketplace Haowang Guarantee, formerly Huione Guarantee, which has facilitated transactions totaling over $27 billion in stablecoins since 2021. Haowang was shut down based on insights provided by blockchain analytics firm Elliptic on Tuesday. The closure took place amidst a crackdown on thousands of suspected Chinese crypto-crime channels operating on [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-26896","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/26896","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=26896"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/26896\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=26896"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=26896"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=26896"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}