Elliptic: After Huione was shut down, Telegram dark web merchants turned to Tudou Guarantee
PANews reported on June 24 that 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. The data shows that merchants quickly shifted to Tudou Guarantee, a competitor platform in which Huione holds a 30% stake, and the inflow of USDT to this platform has returned to levels prior to 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 has more than doubled, with inflows comparable to those before Huione's closure.