The largest black market in the world has been closed by telegram with more than $ 35 billion in TXS USDT

Haowang Guarantee, a black market platform nicknamed the “largest unlawful online market in the world” has announced that it ceased all operations.

The online market announced on May 13: “Since all of our NFT, channels and groups were blocked by Telegram on May 13, 2025, Haowang’s warranty will now cease operations.”

Elliptical research leads to the closure of the two largest online criminal markets of all time

May 13, 2025, @telegram I took decisive measures to close the Huione warranty and the Xinbi warranty – two vast illicit markets operating on its platform – after … pic.twitter.com/pj4omd4iz9

– Elliptical (@elliptic) May 15, 2025

Thousands of channels and telegram accounts related to the Haowang warranty have closed in recent weeks

The renowned company of analysis of the Elliptic blockchain published a report on the same day that Haowang announced its closure, declaring that Telegram had closed thousands of channels linked to the Société du Marché Noir, following its previous research on the market.

Before its fence, Haowang Guaranto has operated a telegram -based market where third -party suppliers have sold technological services, personal data and money laundering services. It was mainly used in Southeast Asia and was extremely popular with cryptographic crooks and other shaded actors online, according to the elliptical report.

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Elliptic said the market had treated more than $ 35 billion in USDT transactions, which made it the largest illegal online market in recorded history.

The illegal transactions on the market were also completed using the USDH. The USDH is a stablecoin supported by an US dollar issued by the “partner and shareholder” group. Stablecoin should allow users to escape the sanctions imposed by traditional regulation agencies.

Although Haowang has renamed his original name, Huione Guaranto, Elliptical declares that the authorities considered the market as part of the Cambodian Conglomerate Group.

The world’s largest black market has just been naked.

Haowang’s warranty – a crime crime based on a 27 billion dollars telegram – was closed after Telegram prohibited thousands of its channels.

He executed everything: data theft, whitening, scams. pic.twitter.com/w4vlufgtzj

– Cryptopotato official (@crypto_potato) May 15, 2025

Smaller Xinbi platform has also closed its doors due to telegram closures: Haowang tracing a return

The network of execution of financial crimes of the US Treasury Department (Fincen) had taken steps to prevent the Huione group from accessing its financial system after having said that Huione had exploited a “money laundering company” with its network of companies that include Haowang, the Payment Pay and Web3 Exchange Huione Crypto.

According to Fincen Research, the Huione group has laundered about $ 4 billion in illegal profits, part of which came from the North Korean crypto as the piracy of Bybit earlier this year.

In addition to his actions on Haowang, Telegram also closed the accounts related to the Xinbi warranty. Xinbi worked similar to Haowang, browsing illicit services such as intimidation as a service and sex trafficking.

Elliptic said it “seriously disrupted” the two largest telegram -based markets, which have collectively dealt with more than $ 35 billion in USDT transactions. The analysis company said in its report that it always monitors more than 30 platforms similar to Haowang.

Rumors abound according to which Haowang tries to relaunch the market under the new brand and potentially via a messenger platform different from that of the telegram.

To date, Telegram has not yet made an official comment on social networks concerning the closure of the accounts that have led Haowang and Xinbi ceases from all operations.

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