Telegram has shut down the illicit marketplace Haowang Guarantee, formerly Huione Guarantee, which has facilitated transactions totaling over $27 billion in stablecoins since 2021.Haowang was shut down based on insights provided by blockchain analytics firm Elliptic on Tuesday.The closure took place amidst a crackdown on thousands of suspected Chinese crypto-crime channels operating on Telegram, following Elliptic's report into marketplace Xinbi Guarantee.Telegram has now shut down both Huione and Xinbi, which processed a combined $35 billion of illicit transactions in stablecoins, Elliptic wrote in a web post on Wednesday
source: https://www.coindesk.com/business/2025/05/15/telegram-shuts-down-largest-illicit-online-marketplace-after-elliptics-insights