{"id":1389,"date":"2025-01-14T09:41:55","date_gmt":"2025-01-14T09:41:55","guid":{"rendered":"https:\/\/fusionmindlabs.com\/blogs\/2025\/01\/14\/telegrams-huione-surpasses-hydra-hits-24b-in-crypto-transactions\/"},"modified":"2025-01-14T09:41:56","modified_gmt":"2025-01-14T09:41:56","slug":"telegrams-huione-surpasses-hydra-hits-24b-in-crypto-transactions","status":"publish","type":"post","link":"https:\/\/fusionmindlabs.com\/blogs\/telegrams-huione-surpasses-hydra-hits-24b-in-crypto-transactions\/","title":{"rendered":"Telegram&#8217;s HuiOne Surpasses Hydra, Hits $24B in Crypto Transactions"},"content":{"rendered":"\n<\/p>\n<p><strong>HuiOne Telegram Market: The Largest Online Illicit Marketplace<\/strong><\/p>\n<p><strong>By Ravie Lakshmanan, January 14, 2025<\/strong><\/p>\n<p>The Telegram-based online marketplace known as HuiOne Guarantee and its vendors have cumulatively received at least $24 billion in cryptocurrency, surpassing the now-defunct Hydra to become the largest online illicit marketplace to have ever operated.<\/p>\n<p><strong>Record-Breaking Figures<\/strong><\/p>\n<p>The figures, released by blockchain analytics firm Elliptic, show that monthly inflows have increased by 51% since July 2024. This significant growth highlights the increasing popularity and profitability of online illicit marketplaces.<\/p>\n<p><strong>HuiOne Guarantee: A Hub for Illicit Activities<\/strong><\/p>\n<p>Huione Guarantee, part of the HuiO group, has been identified as a major hub for illicit activities, including romance-baiting scams. The company&#8217;s vendors offer services to launder the proceeds of these scams, further solidifying its reputation as a major online illicit marketplace.<\/p>\n<p><strong>Laundering Proceeds of Romance-Baiting Scams<\/strong><\/p>\n<p>Elliptic&#8217;s investigation also found that HuiOne Pay is one of the many vendors offering services to launder the proceeds of romance-baiting scams. Another vendor identified by the company claimed to be operating from the Golden Fortune Science and Technology Park in Chrey Thom, Cambodia, a scam compound linked to online scams.<\/p>\n<p><strong>Expanding Crypto-Related Products<\/strong><\/p>\n<p>In recent months, HuiOne Group has also launched a range of crypto-related products, including a U.S. dollar-backed stablecoin called USDH, a decentralized crypto exchange that allows users to swap USDH for other cryptocurrencies, and a messaging app named ChatMe for Android and iOS.<\/p>\n<p><strong>Reducing Risk of Deplatforming<\/strong><\/p>\n<p>Tom Robinson, co-founder and chief scientist at Elliptic, stated, &quot;This appears to be an attempt to reduce the risk of being deplatformed by the likes of Tether or Telegram.&quot;<\/p>\n<p><strong>Stay Up-to-Date with The Hacker News<\/strong><\/p>\n<p>If you found this article interesting, follow us on Twitter and LinkedIn to read more exclusive content we post.<\/p>\n<p><strong>Related Content<\/strong><\/p>\n<ul>\n<li><a href=\"https:\/\/thehackernews.com\/2022\/04\/us-treasury-department-sanctions-russia.html\" rel=\"nofollow noopener\" target=\"_blank\">US Treasury Department Sanctions Russia<\/a><\/li>\n<li><a href=\"https:\/\/www.elliptic.co\/blog\/huione-largest-ever-illicit-online-marketplace-stablecoin\" rel=\"nofollow noopener\" target=\"_blank\">Huione Largest Ever Illicit Online Marketplace Stablecoin<\/a><\/li>\n<li><a href=\"https:\/\/blogger.googleusercontent.com\/img\/b\/R29vZ2xl\/AVvXsEi2DhAEcfZPomMkFjg_PBGRtXcqSQWz21i5YgcBHDXAjhJz4KVuiPktjD7s23mDT7Lwg5ksNAz_1NiUuj1W-8eE8etOwr48VJxkeQo0bgmcJs5BOnWwOJg2onaXTzXPrZNlczStGVo4Cya1_B4i3-R_PaYRch5wRxJ9FjH4KKLewchcG72H04aGgIR7jPTK\/s1600\/per-d.png\" rel=\"nofollow noopener\" target=\"_blank\">Cybersecurity<\/a><\/li>\n<\/ul>\n\n<br \/><a href=\"https:\/\/thehackernews.com\/2025\/01\/illicit-huione-telegram-market.html\" rel=\"nofollow noopener\" target=\"_blank\">Source Link<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>HuiOne Telegram Market: The Largest Online Illicit Marketplace By Ravie Lakshmanan, January 14, 2025 The Telegram-based online marketplace known as HuiOne Guarantee and its vendors have cumulatively received at least&#8230;<\/p>\n","protected":false},"author":19,"featured_media":1390,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[22],"tags":[46,39,32,31,33,34,35,40,36,37,42,44,43,41,38,45],"class_list":["post-1389","post","type-post","status-publish","format-standard","has-post-thumbnail","category-cybersecurity","tag-computer-security","tag-cyber-attacks","tag-cyber-news","tag-cyber-security-news","tag-cyber-security-news-today","tag-cyber-security-updates","tag-cyber-updates","tag-data-breach","tag-hacker-news","tag-hacking-news","tag-how-to-hack","tag-information-security","tag-network-security","tag-ransomware-malware","tag-software-vulnerability","tag-the-hacker-news"],"jetpack_featured_media_url":"https:\/\/fusionmindlabs.com\/blogs\/wp-content\/uploads\/sites\/9\/2025\/01\/telegram-hacker.png","_links":{"self":[{"href":"https:\/\/fusionmindlabs.com\/blogs\/wp-json\/wp\/v2\/posts\/1389","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/fusionmindlabs.com\/blogs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/fusionmindlabs.com\/blogs\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/fusionmindlabs.com\/blogs\/wp-json\/wp\/v2\/users\/19"}],"replies":[{"embeddable":true,"href":"https:\/\/fusionmindlabs.com\/blogs\/wp-json\/wp\/v2\/comments?post=1389"}],"version-history":[{"count":1,"href":"https:\/\/fusionmindlabs.com\/blogs\/wp-json\/wp\/v2\/posts\/1389\/revisions"}],"predecessor-version":[{"id":1391,"href":"https:\/\/fusionmindlabs.com\/blogs\/wp-json\/wp\/v2\/posts\/1389\/revisions\/1391"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/fusionmindlabs.com\/blogs\/wp-json\/wp\/v2\/media\/1390"}],"wp:attachment":[{"href":"https:\/\/fusionmindlabs.com\/blogs\/wp-json\/wp\/v2\/media?parent=1389"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/fusionmindlabs.com\/blogs\/wp-json\/wp\/v2\/categories?post=1389"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/fusionmindlabs.com\/blogs\/wp-json\/wp\/v2\/tags?post=1389"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}