Telegram has announced the removal of two huge digital black markets: Xinbi Guarantee and Huione Guarantee (Haowang Guarantee), which catered mainly to cybercriminals and crypto fraudsters from Southeast Asia.
Analysts at blockchain research company Elliptic reported that since 2021, more than $35 billion in stablecoins have been transferred through these platforms. This amount is significantly higher than the funds that were traded on the famous Silk Road darknet marketplace.
Through the Xinbi Guarantee and Huione Guarantee (Haowang Guarantee) channels, they offered money laundering, stolen data, human trafficking, and torture tools.
In early 2025, Telegram already tried to take action against Huione Guarantee by removing many channels. However, the marketplace resumed work through backups. In the process, Huione Guarantee lost a large number of users – one central channel decreased from over 800,000 users to about 250,000. But the marketplace continued to work.
On May 13, Telegram deleted the channels again and banned the associated usernames for both Huione Guarantee and Xinbi Guarantee. Banning usernames is comparable to seizing a website domain. The marketplace administrators could no longer use it to redirect users to new channels, which made the relaunch much more difficult.
On the same day, Huione Guarantee announced its final closure. However, it also encouraged sellers and users to switch to another warranty marketplace, Tudou Guarantee.
And Xinbi Guarantee announced that it would relaunch as Xinbi 2.0.
Source: Elleptic
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