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Telegram Shuts Down Major $27 Billion Crypto Black Market

5/16/2025

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Summary

Story summary

Telegram has taken a bold stand against online crime by shutting down Haowang Guarantee, a notorious Chinese-language crypto black market. This platform, which enabled over $27 billion in illegal transactions, including money laundering and scams, faced scrutiny from Elliptic researchers. The crackdown on associated accounts signals a major win in the fight against digital fraud.

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Story summary

Telegram has taken a bold stand against online crime by shutting down Haowang Guarantee, a notorious Chinese-language crypto black market. This platform, which enabled over $27 billion in illegal transactions, including money laundering and scams, faced scrutiny from Elliptic researchers. The crackdown on associated accounts signals a major win in the fight against digital fraud.