💣 Telegram’s 27B Darknet Problem Isn’t Going Anywhere

Huione Guarantee is gone. But Telegram’s black market? Bigger than ever.

💸 The 27 Billion Ban That Changed Nothing

In May 2025, Telegram finally banned Huione Guarantee, a Chinese-language darknet marketplace responsible for over 27 billion in illegal transactions — mostly via USDT.

The ban came after an Elliptic investigation tied Huione to scams like pig butchering, fraud rings, and global money laundering.

But the victory was short-lived. Just days later, the same network reappeared on Tudou Guarantee — a near-identical platform where, surprise, Huione owns a 30% stake.

🧪 What Exactly Are Telegram Guarantee Markets?

These aren’t dark web sites — they live inside Telegram, operate in Mandarin, and run on USDT stablecoins only.

Here's how it works:

• A buyer and seller connect via Telegram
• Funds are placed in escrow, held by a “guarantee” middleman
• Once both sides confirm the deal, the crypto is released
• No names. No banks. No KYC.

Think eBay — if eBay was anonymous, unregulated, and entirely crypto-based.

🔄 Tudou Guarantee Picks Up the Slack

After Huione’s takedown, Tudou didn’t just survive — it exploded.

• USDT volumes doubled
• Old Huione vendors reappeared
• Market listings were nearly identical

Elliptic now tracks over 30 active guarantee markets on Telegram, and that’s just what’s public. The real number? Likely much higher.

🏦 Huione Guarantee vs. Huione Pay

Don’t mix them up:

• Huione Guarantee = darknet escrow
• Huione Pay = “legit” fiat-crypto firm in Cambodia

Despite the crackdown, Huione Pay is still open for business, offering physical offices and fiat on/off-ramps for Chinese customers abroad — a huge enabler of the USDT trade.

🚫 Why Can’t Telegram Kill This?

Because Telegram wasn’t built to moderate. It’s private by design:

• Invite-only groups
• No global moderation tools
• Integrated crypto bots
• No ID checks
• No audits

Telegram’s strength — speed and anonymity — is exactly what makes it the perfect platform for illicit escrow services.

🧨 How to Actually Shut It Down

Taking down Huione Guarantee was just whack-a-mole. Here’s what it really takes:

• ✅ Telegram must implement real-time detection + auto-ban systems
• ✅ Stablecoin issuers like Tether need to blacklist darknet wallets
• ✅ Governments must stop acting alone — and coordinate takedowns across borders

Without that? Expect Tudou and others to keep growing — fast.

TL;DR

Telegram banned the 27B Huione Guarantee. But its darknet empire didn't disappear — it just moved to Tudou Guarantee, where activity is back to full steam.

As long as Telegram lacks content enforcement and USDT remains untraceable at scale, guarantee markets will thrive. This isn’t a crypto problem. It’s a platform problem — and the clock’s ticking.