Telegram has shut down thousands of channels linked to Chinese-language illicit marketplaces involved in crypto scams, money laundering, and cybercrime. The action targeted major darknet markets including Haowang Guarantee, which reportedly facilitated over $27 billion in transactions denominated in USDT. Blockchain analytics firms Elliptic and Chainalysis identified these channels as part of a global criminal ecosystem offering a range of illegal services. The shutdown disrupted networks responsible for approximately $35 billion in black-market activity, including the sale of stolen data and fraudulent operations. Despite the takedown, experts warn that illicit operators plan to reestablish their presence on the platform.