# Massive 'Illicit' Online Marketplace Shuts Down After Telegram Takes Action

*Author: Bankless*
*Published: May 15, 2025*
*Source: https://www.bankless.com/de/read/massive-illicit-online-marketplace-shuts-down-after-telegram-takes-action*

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Haowang Guarantee, perhaps the largest online illicit marketplace, was shut down after Telegram’s intervention, [The Block](https://www.theblock.co/post/354408/haowang-shuts-down-after-telegram-intervention) reports.

## **What’s the Scoop?**
- **Largest Illicit Marketplace**: Haowang, a Telegram-based platform, processed over $27 billion in USDT transactions, making it the largest illicit marketplace to date.
- **Stablecoin Evasion**: The platform reportedly used USDH, a stablecoin issued by 'partner and shareholder' Huione Group, to evade regulatory scrutiny.
- **Telegram Intervenes**: Following mounting concerns, Telegram facilitated the shutdown of Haowang earlier this week.
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