Crypto Scam Markets Thrive Again After Telegram’s Cleanup Attempt: Report

Crypto dark markets were reflected in weeks after the telegram closed the largest illegal marketplace in the world, with the successor to process the same volumes, which is about $ 27 billion.

Elliptical reported Monday that the market here has captured most of the volume of transactions from HUione warranty that telegram banned on 13 May after Blockchain Analytics investigation.

The report shows how the HUione warranty activity collapsed to zero immediately after 11 May, while the transaction volume exceeded the increase of up to 18 May and exceeded 300,000 by June 15.

This rapid migration undermines the efforts to disrupt Asian Cyber ​​Scam Infrastructure Infrastructure, where “warranty markets” allow hundreds of thousands of criminals to trade unlawful services through telegram using Stablecoin Tether is USDT.

Elliptics data on the chain confirmed that USDT transactions have fallen to a negligible level by the end of May after the HUione guarantee ban, and the market ended its private deposit services.

Platform for sending messages have terminated thousands of accounts and channels Associated with what the elliptic called “the largest dark market ever existed,” Dwarf Silk Road and Alphabay on a scale.

However, the survival of the criminal network was built because the market in December 2024 gained a 30% share in the warranty, which effectively ensured the continuity of operations.

“Many traders working on this way are the same who previously sold through the HUIONE warranty, offer stolen data, money laundering services and other products needed fraudsters,” Elliptic found.

Complicated connection

The report reveals a complex ecosystem where the elliptics are currently watching more than thirty highly active markets, many of which are trying to fill the gap it has remained by HUIONE.

Elliptic had previously identified As a potential successor in earlier research and Monday report confirmed these predictions.

Other platforms such as shuanging and fully light have also seen stable growth, increasing from approximately 40,000 to 110,000 transactions and fully rising from 20,000 to more than 80,000 to mid -June.

These platforms are facilitated by trade in technology, data and money laundering services used by fraudsters online, while sellers expressly advertising services for ”Butchering“Fraud focuses on Western victims.

“It will require a wider and continued removal of these markets from the telegram if these key activators of global fraudulent epidemic are to be stopped,” Eliptic said.

Unscramble He approached the telegram to express.

Edited Sebastian sinclair