- Successor platforms rapidly replaced Huione, sustaining and expanding crypto scam activity.
- Stablecoins on Tron and Telegram tools remain central to global fraud infrastructure.
- Weak international enforcement enables scam compounds and cross-border fraud networks.
Telegram’s attempt to dismantle the Huione Guarantee marketplace in May was seen as a decisive move against crypto-driven scams. However, the takedown has proven more symbolic than effective. Within weeks, successor platforms like Tudou Guarantee, Shuangying, and Fully Light surged in activity.
These replacements quickly inherited Huione’s massive operations, enabling the illicit trade of stolen identities, laundered funds, and online scam infrastructure to not only continue but expand.
Scam Networks Rebuild Almost Instantly
Following Telegram’s ban of Huione Guarantee, one of the world’s largest crypto scam markets, the criminal ecosystem responded almost instantly. Telegram removed thousands of accounts and channels. Yet, the marketplace’s vendors and customers migrated to new platforms with remarkable speed and organization.
Tudou Guarantee quickly took Huione’s place, handling over 300,000 transactions by mid-June. Many vendors seen on Huione resumed business on Tudou almost without disruption. These platforms operate primarily through Tether (USDT) on the Tron blockchain, offering anonymous, escrow-like “guarantee” services. The structure makes them ideal for scams like romance frauds and fake investments commonly known as “pig butchering.”
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Besides Tudou, Shuangying and Fully Light also gained ground. In less than a month, both platforms tripled their transaction volume. Vendors on these sites advertise services such as fake IDs, SIM cards, and crypto account rentals. These tools enable scammers to convincingly target victims around the world.
Stablecoins and Telegram: The Core Infrastructure
The scam economy’s resilience relies heavily on stablecoins and messaging apps. Tron’s low fees and USDT’s price stability make them perfect for bulk, cross-border payments. Telegram offers privacy and accessibility for criminal groups to coordinate and advertise openly.
Significantly, the failure to freeze wallets or track suspicious activity has given scammers free rein. Despite Tether’s past cooperation with law enforcement, no recent action has been reported against wallets tied to Tudou or similar platforms.
Moreover, Huione had prepared for this shift. Elliptic revealed that Huione’s operators invested in Tudou as early as December 2024. This foresight helped the transition succeed almost instantly when Telegram intervened.
Global Gaps in Enforcement
The persistence of these markets highlights weak global coordination. Scam hubs in Southeast Asia particularly Cambodia and Myanmar house forced labor in scam compounds. Many governments lack the resources or cooperation channels to respond effectively.
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Hence, experts call for stronger KYC enforcement from platforms like Telegram and stablecoin issuers. Without cross-border tracking, wallet freezes, and sustained takedowns, the dark market economy will continue to thrive outpacing any short-term crackdowns.
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