HuiOne Guarantee, a Telegram-based online marketplace, has emerged as the largest illicit marketplace in history, amassing over $24 billion in cryptocurrency since its inception in 2021. Known for facilitating scams, money laundering, and even offering services for human trafficking, it eclipses the defunct Hydra marketplace’s total transactions. The marketplace has seen a 51% rise in monthly inflows since mid-2024, indicating a troubling trend in transnational organized crime. As a response to its exposure, HuiOne Group is attempting to distance itself from fraudulent activities, but reports suggest that it continues to thrive. Recent investigations reveal strong links to North Korean hacking groups and ongoing money laundering operations through its gambling services.
The world of cryptocurrency is buzzing with alarming news about an online marketplace called HuiOne Guarantee. According to recent reports, this Telegram-based platform has enabled a staggering $24 billion in cryptocurrency transactions, making it the largest illicit marketplace in history. It has eclipsed the infamous Hydra marketplace, which was notorious for its underground activities.
An analysis by blockchain firm Elliptic reveals that HuiOne’s monthly transaction inflows surged by 51% since mid-2024. This marketplace gained notoriety for being a hub for scams, offering money laundering services, stolen data, and items meant to aid human trafficking. Reports indicate that HuiOne Guarantee is closely linked to organized crime, affecting victims worldwide through various fraudulent schemes.
The platform initially aimed to facilitate legitimate transactions, like selling cars and real estate, but has since faced scrutiny for its connections to criminal activities. In response to its rising profile, cryptocurrency giant Tether acted swiftly by freezing over $29 million worth of cryptocurrency linked to HuiOne.
Despite efforts to distance itself from illegal activities, HuiOne Guarantee continues to evolve. They have launched several new products, including a stablecoin, a decentralized crypto exchange, and a messaging app called ChatMe. This appears to be a strategy to evade detection and maintain operations amid growing criticism.
Elliptic’s investigation points to the marketplace’s ongoing role in facilitating money laundering, particularly through romance-baiting scams. With $6 billion reportedly passing through a Telegram bot tied to gambling, the illicit flow of funds shows no signs of slowing down.
As authorities become more aware of HuiOne’s operations, it is crucial for users and investors in the cryptocurrency space to remain vigilant. The rise of such platforms highlights the pressing need for better regulatory measures to protect consumers from online scams and fraud.
This information is a wake-up call for the crypto community and serves as a reminder of the importance of due diligence when engaging in online transactions. Cryptocurrency can pave the way for innovation, but the shadow of fraudulent activities looms large.
Stay informed about these developments and protect yourself in the ever-evolving landscape of cryptocurrency.
What is HuiOne Telegram Market?
HuiOne is a secret online marketplace found on Telegram where users can buy and sell illegal items using cryptocurrency.
How does HuiOne compare to Hydra?
HuiOne has just outperformed Hydra, another well-known dark web Market, by reaching $24 billion in crypto transactions, making it a new leader in this space.
What types of items can you find on HuiOne?
You can find many illegal items on HuiOne, such as drugs, counterfeit goods, hacking tools, and more.
Is it safe to use HuiOne?
Using HuiOne is risky because it’s illegal. There’s a chance of scams, and users can face legal trouble. It’s not safe.
Why has HuiOne grown so fast?
HuiOne’s rapid growth comes from its user-friendly platform and wide selection of products, attracting more people looking to make illegal purchases.