TechFlow news, May 15 — According to Decrypt, on May 13 Telegram disabled thousands of accounts linked to Haowang Guarantee (formerly Huione Guarantee), successfully shutting down what blockchain analysis firm Elliptic described as "the largest online illicit marketplace in history." The platform had facilitated the laundering of over $27 billion, supporting Asia's cyberfraud economy.
The U.S. Department of the Treasury had previously proposed designating Haowang’s parent company, Huione Group, as a "primary money laundering concern," accusing it of processing more than $4 billion in illicit funds between 2021 and 2025, including proceeds from North Korean cyber thefts and "pig-butchering" scams targeting U.S. citizens.
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