How Did Telegram Shut Down Haowang Guarantee?  

Telegram banned all Haowang Guarantee accounts, channels, and NFTs. The platform served scammers in Southeast Asia, processing $27 billion in Tether’s USDT. Elliptic’s July 2024 report triggered the operation. Haowang was notorious for money laundering and “pig butchering” scams. Despite signs of fraud and USDT laundering, its groups and channels operated on Telegram for years. Following a Wired investigation exposing the scale of P2P crypto fraud, Haowang lost its Telegram presence.  

The platform stated, “As all our NFTs, channels, and groups were blocked by Telegram on May 13, 2025, Haowang Guarantee will cease operations.”  

Xinbi Guarantee: A New Threat  

Elliptic revealed that Telegram-based Xinbi Guarantee processed $8.4 billion in USDT transactions. Active since 2022, Xinbi saw $1 billion in inflows in 2024. Telegram also deleted Xinbi-linked accounts. However, criminal networks are shifting to new markets like Tudou Guarantee. Experts warn that these shutdowns may not fully resolve the issue. Elliptic’s co-founder Tom Robinson said, “This is a cat-and-mouse game. These are big mice,” noting that crime syndicates may move to new platforms or less-regulated messaging services.  

What Is Telegram Doing Against Crypto Crime?  

Telegram is proactively combating crypto crime, halting Haowang and Xinbi’s combined $35 billion transaction volume. Countries like Australia and Germany are also cracking down on similar platforms. Platform swiftly closes accounts violating its terms of service. However, experts caution that criminals may find new avenues.  

Similarly, Australia blocked over 90 scam platforms, and Germany shut down eXch, linked to the Bybit attack. The fight against crypto crime is intensifying.  

You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don’t forget to follow us on our Telegram, YouTube, and Twitter channels for the latest news and updates.

The post Telegram Shuts Down $27B Haowang Crypto Black Market! appeared first on Coin Engineer.

The leaked data, reportedly available via Telegram bots operated by a group called “xenZen,” includes names, phone numbers, addresses, tax details, ID cards, medical test results, and diagnoses of millions of customers. Despite the bot being taken down, the group warned that it would create another bot if necessary, underscoring the persistent threat.

Might interest you: What is BabyDoge?

This incident has put additional scrutiny on Telegram, which has already been under investigation in India due to its alleged use in illegal activities such as extortion and gambling. The Indian government’s ongoing probe into these matters, combined with this new data leak, increases the likelihood of Telegram facing stricter regulations or a potential ban, depending on the outcome of the investigation.

Telegram’s CEO, Pavel Durov, is also currently involved in a separate legal battle in France, which may complicate the platform’s legal standing in various jurisdictions. For India, this data breach could be the tipping point for more stringent actions, as authorities prioritize data privacy and cybersecurity.

You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don’t forget to follow us on our Telegram, YouTube, and Twitter channels for the latest news and updates.

The post Telegram Faces Ban in India appeared first on Coin Engineer.