<\/span><\/p>\nTelegram also removed accounts connected to **Xinbi Guarantee**, the second-largest platform of its kind. These actions were hailed as progress in **disrupting scam networks** that had taken root on encrypted messaging platforms. Yet, Chainalysis warned that the victory is more symbolic than structural.<\/p>\n
In its report, Chainalysis noted that the **criminal ecosystem** around \u201cguarantee\u201d services has proven highly adaptable. \u201cThese services are likely designed for **redundancy**, speaking to the resilience of criminals and the lucrative nature of their businesses,\u201d the report stated.<\/p>\n
Vendors who once operated on Haowang have already moved to new platforms or **split** across several smaller marketplaces. The same users, Chainalysis said, quickly adjust to **new brokers** and communication channels, reducing the impact of isolated takedowns.<\/p>\n
\u201cFor now, the Huione Group takedown may shift some traffic, scramble broker relationships, or inspire short-term caution,\u201d Chainalysis elaborated, \u201cbut the structural enablers of **crypto crime** unfortunately remain intact.\u201d Telegram continues to serve as the primary base for these illicit operations due to its ease of access and pseudonymous features.<\/p>\n
Despite promises of enforcement, the platform has not disclosed whether further **crackdowns** will follow. Chainalysis concluded that while platform removals may draw headlines, lasting progress against **crypto scams** will depend on more advanced, behavioral-focused monitoring of blockchain transactions.<\/p>\n
Rather than solely dismantling platforms, the firm urges efforts to track illicit funds through **on-chain movement patterns**, where real-time data may expose fraud even when platforms go dark.<\/p>\n
Crypto Crime Turns Violent as Illicit Transactions Top $40B in 2024<\/span><\/h2>\n<\/span><\/p>\nIllicit cryptocurrency activity surged to at least **$40.9 billion** in 2024, according to Chainalysis, with the number likely to grow as more **criminal-linked wallets** are identified. Hacks alone accounted for **$2.2 billion** in stolen assets\u2014a **21% increase** from the previous year.<\/p>\n
**North Korean-linked groups**, including **Lazarus** and **Tradetraitor**, were behind over **60%** of those thefts, with major incidents like the **$300 million hack** of Japan\u2019s **DMM Bitcoin exchange** among their hits. However, the threats extend beyond online exploits. Criminal groups are increasingly using crypto to fund and conceal a wider range of crimes\u2014from **investment scams** and **AI-enhanced romance frauds** to drug trafficking and even **physical violence**.<\/p>\n
In an alarming case on May 13, 2025, the daughter and grandson of **Paymium\u2019s CEO** were nearly **kidnapped** in Paris by masked men. This incident highlights a frightening trend of escalating violence linked to **crypto crime**.<\/p>\n\n\n
![](\"https:\/\/cimg.co\/wp-content\/uploads\/2025\/05\/20080833\/1747728513-image-1747728428486_optimized.jpg\")
<\/p>\n