Illicit Crypto Markets Huione and Xinbi Don Come Back After Telegram Ban, Dem Process Billions in Stablecoins
Di illegally cryptocurrency market wey dem dey call Huione Guarantee and Xinbi Guarantee, wey dem don ban from Telegram before because dem dey help criminal dem do bad things, don come back sharp sharp with new names and oda platforms. TRM Labs talk say, both networks still dey allow plenty crypto transactions, especially using stablecoins like USDT. Huione don process over $80 billion since 2021, and Xinbi over $8.4 billion since 2022, wey don pass all di darknet markets wey don dey before. Even with U.S. sanctions and Telegram wey dey pursue dem, di groups don successfully move their business go platforms like Tudou Guarantee, ChatMe, and SafeW, and dia users don dey plenty again quick quick. These platforms no dey sell wetin dem ban directly, but dem dey provide escrow services for bad deals, including identity fraud and tools wey dem dey use monitor people, wey make am hard for law enforcement to catch dem. Di way dem dey strong and dey move around show say big wahala dey for global crypto regulation and efforts to stop money laundering. Di fact say these underground stablecoin markets still dey operate dey worry crypto traders, because constant criminal money flow fit put extra scrutiny and risk on stablecoin ecosystems and blockchain transactions wey dey focus on privacy.
Bearish
How bad bad crypto platforms like Huione and Xinbi still dey work, even after dem don do wetin dem suppose do and sanction dem, just show say crypto rules get many holes, especially for stablecoins like USDT. The plenty way dem dey do illegal deals don make regulators put eye and e fit make dem come dey watch stablecoin people and those wey dey do secret blockchain things more. This one go make am harder for people to follow rules, reduce confidence, and fit make prices drop, especially for wetin dem dey use plenty for dem network. For crypto traders, this kind news usually mean say law and how dem dey do business go get plenty wahala, so this news no good for dem crypto money, whether short or long term.