Telegram Hosting World’s Largest Darknet Market
Wired is reporting on Chinese darknet markets on Telegram.
The ecosystem of marketplaces for Chinese-speaking crypto scammers hosted on the messaging service Telegram have now grown to be bigger than ever before, according to a new analysis from the crypto tracing firm Elliptic. Despite a brief drop after Telegram banned two of the biggest such markets in early 2025, the two current top markets, known as Tudou Guarantee and Xinbi Guarantee, are together enabling close to $2 billion a month in money-laundering transactions, sales of scam tools like stolen data, fake investment websites, and AI deepfake tools, as well as other black market services as varied as pregnancy surrogacy and teen prostitution.
The crypto romance and investment scams regrettably known as “pig butchering”—carried out largely from compounds in Southeast Asia staffed with thousands of human trafficking victims—have grown to become the world’s most lucrative form of cybercrime. They pull in around $10 billion annually from US victims alone, according to the FBI. By selling money-laundering services and other scam-related offerings to those operations, markets like Tudou Guarantee and Xinbi Guarantee have grown in parallel to an immense scale.
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Clive Robonson • January 5, 2026 7:49 AM
@ Bruce, ALL,
I read,
And the first thought that occurs to me is not about “darknet markets” but,
“Why Telegram? it’s not secure…”
Especially with group messaging, that a darknet market or simillar
with moree than two party messaging system would need.
This article,
https://wire.com/en/blog/is-telegram-a-security-or-surveillance-tool
Points out four things of relevance about Telegram,
1, It’s got clear links to the Russian security services.
2, By default E2EE is turned off.
3, Group messaging is always plaintext
4, Every message has a device ID that is always in plaintext.
There are also other issues to do with linked in / attached content.
US legislation forces any traffic involving “foreign access” gets recorded and trundled off to the NDA Buffdale data center, and may well also be seen by the FBI et al. Secondly the “Cloud Act” forces access to anything stored on a computer to be made available by the US company / subcompany or affiliates no matter where in the world the data is stored.
This came as a bit of a shock to French Authorities and some time ago to UK Parliamentarians all of whom use Office 365 cloud based services for just about everything.
Then as some know the US Executive got upset with part of the UN and their access to Microsoft cloud services mysteriously failed and Microsoft claimed,
“Not us guv, nuffing we can do about it mate…”
Which as others have pointed out is almost certainly a lie…