Telegram Cracks Down on Chinese-Language Dark Markets Xinbi and Huione Guarantee

BTCC / BTCC Square / Global Cryptocurrency /

Author:

Release Time:

2025-05-14 12:17:01

Telegram has escalated its enforcement against illicit cryptocurrency markets, shuttering thousands of channels tied to Xinbi Guarantee—a Colorado-registered platform facilitating over $35 billion in USDT transactions. The move follows Elliptic’s July 2024 exposé on Huione Guarantee, another Telegram-based hub servicing Southeast Asian fraud networks, including ’pig butchering’ scams.

The platform’s cleanup disrupts darknet markets that previously operated with impunity, mirroring Tor-accessible ecosystems. While no specific coins or exchanges were named in the crackdown, the action underscores growing scrutiny of USDT’s role in cross-border crypto fraud.

By:

Log in to Reply

FalconX Partners with Standard Chartered to Boost Institutional Crypto Liquidity

Articles on this site are sourced from public networks or curated by AI for informational purposes only and do not represent BTCC’s views. Original rights belong to the respective authors. For copyright concerns, please contact [email protected]. BTCC assumes no liability for the accuracy, timeliness, or completeness of this information, and disclaims all liability arising from reliance on such content. This content is for reference only and should not be taken as investment, legal, or commercial advice.