Telegram has shut down Haowang Guarantee (formerly Huione Guarantee), the world’s largest darknet marketplace, after banning thousands of related accounts on May 13, 2025. The Chinese-language platform facilitated an estimated $27 billion in illicit USDT transactions—part of a broader $98 billion network—offering money laundering, scam infrastructure, and stolen data. Elliptic hailed the closure as a “huge win,” though a rival service, Xinbi Guarantee, continues operations with at least $8.4 billion laundered so far.

source: Cointelegraph

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