Crypto fraudsters laundered 27 billion dollars through Telegram

The cryptocurrency money laundering platform ceases its operations

Haowang Guarantee, the largest money laundering platform in Internet history using cryptocurrencies, has announced its closure. This became known after Telegram blocked thousands of accounts related to cryptocurrency fraud, including Haowang Guarantee channels.

The platform has been known for serving crypto fraudsters and laundering money for many years. According to analysts at Elliptic, over 27 billion dollars in real cash-cryptocurrency transfers have passed through Haowang Guarantee. It is planned that the parent company of the platform, registered in Cambodia, has connections with the government of the country and the royal family. The financial conglomerate Huione Group, which controls Haowang Guarantee, is linked to Cambodian Prime Minister Hun Man and his cousin and other structures.

According to Elliptic co-founder Tom Robinson, the closure of Haowang Guarantee is a big victory in the fight against online crime. It is an important step in the battle against the epidemic of cryptocurrency fraud and money laundering.

It is known that the platform provided money laundering services through Telegram, as well as offered a wide range of illegal products and services. After Telegram's decision to block both platforms, they attempted to appear again, but this led to massive account blocks.