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Telegram An important Chinese darknet market, suspected of facilitating cryptocurrency scams and cybercrime, has been shut down by the messaging service Telegram, where it operated.

The largest illicit internet market, Haowang Guarantee, formerly Huione Guarantee, announced it would close after Telegram banned thousands of associated accounts on May 13.

"Given that all our NFTs, channels, and groups were blocked by Telegram on May 13, 2025, Haowang Guarantee will cease its operations from now on," read the notice on the market's website.

A note from Wired indicated that this involved the banning of thousands of accounts and usernames that served as infrastructure for the cryptocurrency crime market and its providers.

Telegram spokesperson Remi Vaughn told the outlet that "the communities previously reported by WIRED or included in the reports published by Elliptic have been removed," before adding that "criminal activities such as scams or money laundering are prohibited by Telegram's terms of service and are always removed when discovered." closed the "largest darknet market that has ever existed"

Haowang Guarantee, formerly Huione Guarantee, has announced that it will cease its operations following a massive purge of merchant accounts on Telegram.