A study by Elliptic revealed a significant increase in activity across Telegram markets following the closure of Huione Guarantee.
Elliptic's Findings
According to Elliptic, after the closure of Huione Guarantee in May 2023, more than 30 Telegram markets reported a surge in user activity. Tudou Guarantee has seen the largest influx, receiving many former users of Huione.
Resumption of Merchant Activity
Many merchants previously active on Huione Guarantee have resumed their operations on Tudou Guarantee, offering services such as stolen data sales and money laundering.
Prospects for Future Operations
Elliptic also notes that other assets within the parent group continue to process significant volumes of cryptocurrency transactions. However, more extensive and ongoing removals of such markets from Telegram will be essential to prevent further operations.
Following the closure of Huione Guarantee, activity on alternative Telegram markets is continuing to rise, highlighting the need for oversight of such platforms.
