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Telegram closed the HUIONE warranty, the largest illegal marketplace in history, with more than $ 27 billion in transactions, paradoxically strengthening the dark market because competing platforms recorded 400% volume and quickly absorbed a criminal user base.
After the investment of the Eliptic company in the analysis of the blockchain, Telegram has banned thousands of channels and HUIIONE -related accounts 13 May 2025.
However, the succession platform, this warranty, immediately captured the displaced crime and processed the same volumes within a few weeks of closure.
Telegram Dark Markets Expand and Fill in the gap that has left the HUIONE warranty
In May, Telegram concluded HUIONE Guarantee – the largest dark market that has ever existed, responsible for more than $ 27 billion in USDT transactions – after research from elliptics.
Elliptics … pic.twitter.com/zy2m1ju3i0
– Elliptic (@elliptic) June 23, 2025
Elliptical watched More than 30 highly active warranty markets in Southeast Asia, which continue to facilitate money laundering, theft of data trading and “butcher shop” of fraudulent infrastructure.
HYDRA EFFECT: How HUIONE multiplies under pressure
The Huione market of $ 27 billion functioned as a sophisticated criminal ecosystem, offered everything from false documents and alienated personal data after money laundering and intimidation for renting through encrypted telegram infrastructure.
The range of the platform has spread far to a simple financial crime, and links to people trading operations were masked as a legitimate IT company in Cambodia, Laos and Myanmar, where victims were forced to carry out romantic fraud and crypto fraud in constant supervision.
Huione was associated with the Cambodian ruling elite and its role in washing yields for the North Korean group Lazarus. It made him out of him Primary target for the US Treasurywho described the whole Huione group as worries about money washing in May 2025.
In December 2024, the criminal enterprise gained a 30% share of the warranty, which effectively ensured the operational continuity before the realization of coercive measures.
This planning allowed hundreds of thousands of users to migrate. The volumes of the company’s transaction so increased to 15 June to more than 300,000 to more than 300,000.
The same merchants who previously worked Huione immediately introduced surgery to thisIt offers identical services, including stolen data, money washing capabilities and specialized tools for fraud with cutting pigs focused on Western victims.
In addition to the dominance of this, several smaller platforms have experienced exponential growth because the criminal ecosystem shattered and diversified.
According to Elliptic, Shuanging Marketplace, he saw that user numbers three times from 40,000 to 110,000 transactions and fully light has expanded from 20,000 to more than 80,000 transactions.
These platforms use Telegram encryption for communication and comprehensive business operations, including reputation management, order fulfillment and disputes between sellers and clients.
Tether’s USDT Stablecoin is also used as the primary medium, which provides these criminals with stability denominated to the dollar and avoids traditional banking systems.
The UN estimates that a telegram -based criminal activity generates up to $ 36.5 billion per year through fraud, money washing and theft of data sales.
Ongoing calls for enforcement of law for an encrypted economy of crime telegram
Despite the cooperation of Telegram in eliminating thousands of channels and prohibiting related accounts, Chain adjustment research revealed that the main infrastructure of the HUIONE cryptocurrency process He remained functional, which also confirmed the elliptical.
The platform simply migrates into new domains and continues quietly in the presence of the telegram within a few weeks of the apparent shutdown.
This resistance stems from the comprehensive platform architecture that separates the publicly oriented marketing infrastructure from the basic financial processing systems. This allows crime to continue, although their most visible components face disruption.
The limited impact of coercive measures is particularly reflected in the exploration of a wider criminal ecosystem that Huione enabled, including the forces of trading in crypto fraudulent operations across the Southeast Asian Asian
The new report of the UN provokes a telegram to influence organized crime in Southeast Asia in the middle of the legal suffering of Pavel Durov.#Telegram #Paveldurov #Unhttps://t.co/q0zemy6tiu
– Cryptonews.com (@cryptonews) October 7, 2024
These physical operations, often masked as customer service centers, create a hybrid criminal model that combines digital financial crime with traditional trafficking in people, which is a comprehensive enforcement of exponentially complex because it requires coordination across different jurisdictions and categories of crime.
While the telegram began to respond to the pressure by removing certain functions and updating content principles, the main encrypted capabilities of the platform message remain attractive to criminals who use legitimate privacy protection of technology to operate sophisticated ecosystems on the market.
The call for regulators is to deal with the abuse of a crime without undermining the rights to privacy and communication security, which makes encrypted platforms valuable to legitimate users around the world.
Telegram CEO Pavel Durov also fights this battle with regulatory bodies. Was recently arrested and released on bailBut supervision remains.
Contribution Telegram closes the largest market with crypto fraud Huione He appeared for the first time Cryptonews.
