Illicit HuiOne Telegram Market Surpasses Hydra, Hits $24 Billion in Crypto Transactions

HuiOne Guarantee, a Telegram-based marketplace, has received over $24 billion in cryptocurrency, surpassing Hydra to become the largest illicit online marketplace. Despite distancing itself from its parent company and blocking certain commerce, the platform continues to grow, with significant inflows and connections to organized crime and money laundering. Elliptic’s analysis highlights HuiOne’s expansion into crypto-related products and services.