Telegram and the crypto scam market: the fight against Huione

The closure of Huione by Telegram has not stopped the growth of the largest crypto scam market ever, which over time has handled transactions worth over 27 billion dollars.

However, the fight against these criminal systems has intensified, with an unusual increase in business volume and the rapid emergence of new competitors in the world of illicit platforms.

Huione: a criminal ecosystem on Telegram for crypto scams

Huione represented a sophisticated criminal market active on Telegram, capable of offering a wide range of illegal services. These included fake documents, stolen data, money laundering services, and acts of intimidation.

It was not just about digital scams: the criminal network extended its range of action to human trafficking and collaborations with international groups like the well-known Lazarus group.

It is important to emphasize that Huione was under the control of criminal elites from countries such as Cambodia, Laos, and Myanmar, while direct links with North Korea are highlighted.

This structure gave Huione remarkable resilience, even in the face of repeated counteractions.

In the face of the international alarm, Telegram removed thousands of channels and accounts linked to Huione. However, despite the ban, the financial components and cryptocurrency payment infrastructures remained fully operational.

Thus, the criminal actors quickly migrated to new domains and platforms, keeping their economic power unchecked.

This situation is confirmed by an increase in the volume of criminal transactions on Telegram, which has reached +400%, highlighting how targeted shutdowns have had only a partial effect on this ecosystem.

After Huione, the platform that took control of the black market on Telegram became Tudou Guarantee.

By mid-June, this platform surpassed 300,000 transactions, with a large part of the previous Huione sellers continuing to operate in a similar manner.

The services offered by Tudou Guarantee reflect those of Huione, including the sale of stolen data, money laundering, and “pig butchering” scams, which are romantic deceptions where the victim is gradually drained financially.

Many parallel platforms expanding

Besides Tudou Guarantee, many other smaller platforms are experiencing explosive growth.

These entities use Telegram as the main means of communication and coordination, with widespread distribution that makes it even more challenging to combat criminal activities.

A key element is the massive use of Tether (USDT) for transactions, a stable cryptocurrency that provides criminals with a more predictable economic haven compared to traditional currencies.

Illegal activities related to Telegram are estimated to generate a business turnover of approximately 36.5 billion dollars per year.

This figure highlights the extent of a problem that far exceeds the digital realm alone, leading to transnational crimes and complex forms of violence and exploitation.

One of the major difficulties for the authorities is the separation between public and financial components of these platforms.

Telegram, in fact, even though it removes visible channels, does not completely block the payment and trading systems of criminals, who can thus continue their activities on new emerging platforms and domains.

Criminal networks on Telegram often combine digital crimes with human trafficking, creating a hybrid model that eludes traditional investigative tools.

The platforms end-to-end encryption, while protecting the privacy of legitimate users, is exploited by criminals to avoid interceptions and checks.

Telegram, led by CEO Pavel Durov, is committed to countering these activities. However, the technical complexity and the decentralized nature of the infrastructures serve as a significant obstacle in permanently eliminating these illegal markets.

Future prospects in the fight against crypto scams

The battle of Telegram against Huione and similar entities confirms that simply shutting down channels is not enough to curb criminal activities in the crypto world.

An integrated approach is necessary, involving international law enforcement authorities, industry operators, and the platform itself.

In the meantime, the continuous proliferation of new markets on Telegram and the use of stable currencies like Tether make it essential to increase awareness of the risks associated with the use of cryptocurrencies in unregulated contexts.

Ultimately, the fight against crypto scams on Telegram is a complex technological and legal challenge, requiring constant vigilance, innovation in investigative techniques, and global collaboration.

Only in this way can one hope to contain an economic and social phenomenon destined to grow further if left unchecked.