Article with AI Analysis
Date: May 16, 2025
Source: Cointelegraph
Introduction
A major victory in the fight against online crime just took place. Telegram, the messaging app, has shut down one of the world’s biggest crypto-based darknet marketplaces—Haowang Guarantee (formerly Huione Guarantee). This platform was reportedly responsible for billions in illicit transactions and played a key role in facilitating scams and cybercrime across Asia. Its closure could signal a major shift in the ongoing battle against digital fraud.
The Fall of Haowang Guarantee
On May 13, Telegram banned thousands of accounts tied to Haowang Guarantee after reports from investigative outlets and blockchain analysts. The operators behind the marketplace confirmed the shutdown on their website, stating they would cease all operations due to the Telegram purge.
Haowang Guarantee allegedly processed more than $27 billion in shady transactions, mostly using the USDT stablecoin. According to blockchain security firm Elliptic, the wider Huione Group handled an estimated $98 billion in crypto flows. The site provided tools for laundering money, fake identities, scam infrastructure, and even physical restraint devices used in scam compounds.
The U.S. Treasury had recently named it a money laundering operation and moved to cut it off from the American banking system.
New Threats on the Horizon: Xinbi Guarantee
Even with Haowang’s shutdown, the fight isn’t over. A new player Xinbi Guarantee has emerged. It has already facilitated more than $8.4 billion in crypto activity, and it’s still growing. Like Haowang, it uses Telegram as its base and supports a dark network of crypto-enabled crime.
Researchers warn this points to a larger “China-based underground banking system” using crypto to move money outside of regulated channels.
AI-Powered Sentiment Analysis
Our AI analysis of this article revealed:
Sentiment Score: 0.42 — Indicates a moderately serious and impactful event.
Financial Sentiment: 2.14 — Very high due to the enormous sums tied to illegal crypto flows.
Polarity Score: 0.087 — Slightly positive, driven by the platform takedown.
Subjectivity Score: 0.431 — Balanced tone with verifiable claims and objective insights.
These scores suggest that the article is largely factual and emotionally grounded, with a sense of cautious optimism following a major enforcement action. The financial relevance is high due to the size and scale of the transactions involved.
Read More
Read the full article on: https://cointelegraph.com/news/telegram-shuts-down-huione-guarantee-in-account-purge
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Disclaimer
This article was generated using AI and reviewed for accuracy. The information presented is for educational purposes only and should not be construed as financial advice. Always consult with a professional before making investment decisions.