Telegram takes down $35 billion black-market networks, but illicit operators plan comeback

Telegram It has reduced thousands of accounts associated with two massive networks on the black market, the Xinbi guarantee and the Haowang guarantee and shut down its operations effectively.

Blockchain company Elliptical reported These networks have made it easier for more than $ 35 billion in Stablecoin transactions through the telegram -based marketplaces.

Despite the intervention, the operators of these illicit markets are reportedly not died.

Tom Robinson, co -founder of the elliptic, said Cryptoslate that these platforms are too profitable to be completely abandoned. Therefore, operators are trying to revive their operations in the Social Report application.

Haowang turns off

13. confirmed This would end the operation because its NFT, groups and channels were removed from the telegram.

Elliptic said the platform acted as a digital bazaar for illegal services and offered access to stolen data and money washing. He mainly took care of clients of Southeast Asia, including the crypto fraudsters.

The market allegedly processed more than $ 27 billion in Stablecoins transactions, making it the most important illegal crypto marketplace.

Elliptic said that USDH, The key facilitator of her transactions was the key facilitator of her transactions associated with the HUIONE Group.

Huione is a Cambodian financial company accused of using its crypt products, including Huione Pay and Huione Crypto to set out on global sanctions and regulatory checks.

As a result, US authorities moved Block Huione Group from the US financial system.

At the beginning of this month, the network of financial crimes of the Ministry of Financial Crime (Fincen) described the entity as an operation of money laundering that worked out illegal funds over $ 4 billion, some of which have been stolen North Korean hackers.

However, HUIONE operators seem to be aimed at continuing their business despite Hawang’s departure.

Robinson noted that the unlawful market team urged users to migrate for this guarantee, another platform with apparent HUIONE ties.

Eyes Xinbi Eyes Comeback Despite Closing

Like Haowang, the telegram also dismantled the Xinbi warranty, a secondary, but equally notorious platform working through an application for sending messages.

According to Elliptic, the illegal market offers money laundering services and even more extreme offers such as intimidating services and sex trading. Xinbi reportedly dealt with $ 8.4 billion in USDT, with reference to North Korea also identified.

Elliptic pointed out that what distinguishes Xinbi is its entitlement to legitimacy through integration into LTD Xinbi Co. LTD in Colorado.

Despite the recorded shutdown, however, it seems that the Xinbi team is regrouped.

Robinson said Cryptoslate:

“The Xinbi warranty is trying to restart as” Xinbi 2.0 ” – it remains to see if the telegram will continue.”

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