Under international pressure and continuous exposure by blockchain intelligence agencies, the Telegram platform has recently launched an unprecedented purge of the guarantee industry.
Xinbi Guarantee and Haowang Guarantee, two giants that have been active in the Telegram ecosystem for a long time and control a large number of financial usernames and high-value NFT resources, were forced to ban their core accounts, and some rare usernames linked to Ton coin (Telegram's official token) were also subjected to associated "pursuit".
Source of the Ban: Elliptic Research Triggers Platform Purge
It is reported that this large-scale ban was triggered by a forthcoming deep report on the "Telegram black market financial ecosystem" by blockchain tracking company Elliptic.
The research specifically named Huione Guarantee as one of the world's largest online money laundering hubs, directly linking it to fraud, human trafficking, and cross-border gambling crimes.
After the report was submitted to Telegram's parent company, it triggered a chain reaction: Telegram blocked dozens of supergroups and username resources suspected of being associated with fraudulent activities within hours.
Multiple community leaks claim that "top usernames" worth over ten million yuan were banned, related guarantee operators' accounts disappeared, and user assets were difficult to recover.
Whale Fall or Rebirth? The Industry Faces Major Turmoil
Huione Guarantee had long controlled a large amount of USDT guarantees, cross-border transfers, and black market services in Telegram. This "network disconnection" purge effectively cut off its main channels of dissemination. The highly tied new coin and Haowang guarantee systems also announced the cessation of some public group operations, retaining only "special group services".
Analysts point out that this action is a heavy blow to the entire gray financial ecosystem, but whether it can truly eradicate the problem remains to be observed.
It is worth noting that some resource-based groups are trying to shift to other platforms (such as Matrix, Line) and connect with a new alternative project called "Potato Guarantee", attempting to rebuild financial channels.
Telegram's Crisis and Transformation
Although Telegram's action to impose bans demonstrates its attitude under compliance pressure, it also exposes the dual dilemma of its platform governance: on one hand, it needs to maintain the belief in cryptographic liberalism, and on the other hand, it must respond to international sanctions and pressure from intelligence units.
Elliptic researchers and investigators from The Moscow Times stated on social media: "Telegram has become a digital playground for the world's worst online actors." And this "whale fall" purge may just be the beginning.
