The shutdown of one of the largest darknet markets, Huione Guarantee, has triggered significant user and vendor migration to alternative platforms. Analysis indicates that Tudou Guarantee has emerged as a notable beneficiary in this process.
Reasons for the Shutdown of Huione Guarantee
Huione Guarantee ceased operations in May after a widespread crackdown on Telegram that led to the banning of thousands of accounts and channels linked to this illicit platform.
Growth of Alternative Platforms
According to a report by Elliptic, Tudou Guarantee has emerged as the biggest beneficiary of the shutdown of Huione Guarantee. The platform has more than doubled its user base in recent weeks, with cryptocurrency inflows now matching those that were processed by Huione Guarantee.
Impact on the Darknet Market
The migration of users from Huione has also affected merchants previously engaged in illegal activities, moving to Tudou. Elliptic concludes that the closure of a single platform has an impact, but does not stop the market as a whole, indicating a need for a broader approach to eliminate such markets.
The closure of Huione Guarantee raises questions about the dynamics of darknet markets and how they adapt to changes. This event highlights the need for more coordinated actions to combat such activity online.
