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HuiOne Telegram Market Becomes Largest Illicit Marketplace

/ 1 min read

💰 HuiOne Guarantee emerges as the largest illicit online marketplace, surpassing Hydra. The Telegram-based platform HuiOne Guarantee has reportedly received over $24 billion in cryptocurrency, making it the largest online illicit marketplace to date, according to blockchain analytics firm Elliptic. Established in 2021, it has been linked to various online scams, including money laundering and human trafficking, and has over 820,000 users. Despite attempts to distance itself from criminal activities, the marketplace continues to thrive, with significant cash inflows and connections to North Korean hacking groups. Recent developments include the launch of new crypto products by HuiOne Group, which may be efforts to mitigate risks from deplatforming by major financial services.

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