🚨 Telegram Shuts Down $35B Crypto Crime Empire — But the Underground Is Already Rebuilding
In a major blow to global cybercrime, Telegram has dismantled two massive black-market networks — Haowang Guarantee and Xinbi Guarantee — which together facilitated over $35 billion in illicit crypto activity.
According to Elliptic and WIRED, these platforms offered services ranging from money laundering and fake IDs to sex trafficking, all coordinated via Telegram channels and NFTs.
🔒 Haowang, formerly Huione Guarantee, shut down on May 13, blaming Telegram bans. It's tied to Cambodian elites and linked to $4B in laundered funds, some connected to North Korean hackers.
🕵️ But it’s not over — the operators are regrouping. Haowang users are shifting to a new platform called Tudou Guarantee, while Xinbi is rebranding as “Xinbi 2.0.”
🧠 Experts warn this is just a step in a long fight.
“Huge win,” says Elliptic’s Tom Robinson. “But they’ll be back.”
The war on crypto crime just escalated. Stay alert.