Telegram closes “the biggest darknet marketplace of all time”
Telegram has shut down a sprawling Chinese darknet platform that was involved in large-scale crypto fraud and cybercrime.
Telegram has shut down a sprawling Chinese darknet platform that was involved in large-scale crypto fraud and cybercrime. The platform, called Haowang Guarantee, announced on its own website: “Because Telegram blocked all of our NFTs, channels, and groups on May 13, 2025, Haowang Guarantee is ceasing its activities immediately.”
According to a report from Wired, thousands of accounts and usernames were removed that served as infrastructure for the marketplace and its vendors.
The platform facilitated transactions worth about $27 billion, primarily in the stablecoin USDT (Tether), according to data from blockchain analytics firm Elliptic.
Via Haowang Guarantee, criminals could purchase, among other things, stolen personal data, deepfake software, and counterfeit identification documents, according to Elliptic.
Tom Robinson, co-founder of Elliptic, called the shutdown of what he refers to as the “biggest darknet marketplace of all time” a “major win.” He said: “This is a turning point for online crime markets as a whole and crucial for victims of online fraud. This marketplace enabled the global fraud epidemic. I expect it will significantly curb the capabilities of online scammers.”
The darknet refers to shielded websites not accessible through ordinary search engines. In the early days of the darknet, Bitcoin was commonly used as a payment method, for example on the infamous Silk Road marketplace.
