Haowang guarantor, a black market platform called “larger illicit online market in the world” has announced that all operations are ceasing.
The online market announced on May 13: “Since all our NFT, channels and groups were blocked by Telegram on May 13, 2025, Hawang guarantor will stop operating from now on.”
Elliptical research leads to the closure of the two largest criminal markets of all time
May 13, 2025, @telegram He took decisive measures to close Huione’s guarantee and the Xinbi guarantee: two fixed illicit markets that operate on their platform, following … pic.twitter.com/pj4omd4iz9
– Elliptical (@elliptic) May 15, 2025
Thousands of channels and telegram accounts linked to Haowang guarantee closed in recent weeks
The accredited blockchain analysis firm Elliptic published a report the same day that Haowang announced its closure, stating that Telegram had closed thoughts or channels linked to the signing of the black market, after its previous research.
Before its closure, Haowang Guarante operated a telegrams -based market where third -party suppliers sold technological services, personal data and money laundering services. It was mainly used in Southeast Asia and was very popular among cryptographic scammers and other online shaded actors, by the elliptical report.
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Elliptical reported that the market had prosecuted in USDT transactions worth $ 35 billion, which made it the largest illegal market in registered history.
Illicit transactions in the market were also completed using USDH. USDH is a stablecoin backed by US dollar issued by the “partner and shareholder” Huione Group. It is reported that STABLOIN allows users to evade sanctions imposed by traditional regulatory agencies.
Although Haowang renamed his original name, Huione guarantees, Elliptical states that the authorities saw the market as part of the Cambroyan financial conglomerate group Huione Group.
Haowang guaranteed-a $ 27b+ crime hub-shut after Telegram prohibited thousands of their channels.
He executed everything: data theft, washing, scams. pic.twitter.com/w4vluftzj
– Cryptopotate Officer (@Crypto_Potato) May 15, 2025
Smaller xinbi platform also closed due to telegram account closures: Haowang drawing a return
The Financial Crime Control Network of the United States Department of the Treasury (FINCEN) had task steps to prevent the Huione group from accessing its financial system after stating that Huione operated a “web 3 3 money laundering includes and ghesfehebebunnte Hatate Hatate Hatate Hatate Exchange Huione Crypto.
According to Finn’s investigation, Huione Group washed around $ 4 billion in illegal processes, a part of which he voted for the cryptographic breasts of North Korea such as Bybit Hack at the beginning of this year.
Together with his actions in Hawang, Telegram also closed the accounts linked to the Xinbi guarantee. Xinbi worked similarly to Hawang, who attributed illegal services such as intimidation as service and sex trafficking.
Elliptical said this “severely interrupted” the two largest telegrams based markets, which have collectively prosecuted more than $ 35 billion in USDT transactions. The analysis firm declared in its report that it still monitors more than 30 platforms similar to Haowang.
Rumors abound that Haowang is trying to revive the market under a new brand and potentially through a messaging platform different from telegram.
As of today, Telegram has not yet made an official comment from social networks about the closure of the accounts that led Hawang and Xinbi to stop all operations.
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Telegram closed thousands of accounts linked to Haowang’s guarantee, an online illicit market
- Haowang obtained $ 35 billion in transactions while selling stolen data and illicit goods
- A smaller black market company, Xinbi, was also trapped in crossfire and has stopped operating
- It alleges that Haowang is drawing a return with a different name
The largest black market in Telegram closed by Telegram with more than $ 35 billion in USDT TXS first appeared in 99Bitcoins.