Elliptic: After Huione was shut down, Telegram dark web merchants turned to Tudou Guarantee

according to Cryptoslate, Elliptic released a report stating that despite the Huione Guarantee platform in Cambodia being shut down on May 13 due to its involvement in a $27 billion pig-butchering scam, dark market transactions on Telegram have not decreased.

Data shows that merchants quickly shifted to the competitor platform Tudou Guarantee, in which Huione holds a 30% stake, and the USDT inflow to this platform has returned to levels seen before Huione's shutdown. On-chain data indicates that after the ban was implemented, Huione's USDT inflow dropped to nearly zero, while the number of users on Tudou Guarantee more than doubled, with inflows comparable to those before Huione's closure.