Telegram Destroys $35 Billion Dark Web Empire – But the Crooks Are Already Plotting a Comeback!
In a dramatic crackdown, Telegram has dismantled two of the largest crypto crime syndicates in internet history — Haowang Guarantee and Xinbi Guarantee. These black markets, operating brazenly on the app, facilitated over $35 billion in illicit crypto transactions, offering services like money laundering, stolen data, and even sex trafficking.
The takedown followed major investigations by blockchain analytics firm Elliptic and WIRED magazine, which uncovered the vast scale of the operations. Haowang Guarantee, formerly Huione Guarantee, shut down on May 13 after Telegram banned its groups and usernames. It had become a crime hub dealing in Tether-based laundering, fake IDs, deepfakes, and torture tools linked to Southeast Asian human trafficking camps.
The parent company, Huione Group, allegedly laundered over $4 billion and is tied to Cambodia's elite — with some funds traced to North Korean hackers. Despite the crackdown, criminals are regrouping: Haowang users are being directed to a new market called Tudou Guarantee, while Xinbi is planning a return as “Xinbi 2.0.”
Experts warn this isn’t over. Elliptic’s Tom Robinson calls it “the biggest dark-net market ever.” The war on crypto crime may have hit a turning point — but the battle continues.