The outbreak of the major guarantee of the guaranteed guaranteed on the crypto cryptography market has seen its users flock at least 30 successors, with a market doubling its user base since May.
Huione’s guarantee closed in May after Telegram prohibited thousands of its associated accounts and channels.
Elliptic said in a report on Monday that following the closure, several telegrams markets had seen the number of users increase, but the Tudou guarantee was the “main winner”, capturing a large part of the old volume of Huione transactions.
“The Tudou guarantee has seen more than double users – and cryptocurrency inputs are now approximately equal to those observed for the Huione guarantee before its stop,” said Elliptic.
Traders also make change
With users, traders who once operated on the Huione guarantee also moved to Tudou, offering stolen data, money laundering services, illicit products and other products to help crooks trap the victims.
With Tudou, Elliptic follows more than 30 other dark markets based on the telegram which experienced an increase in users and volume after stopping the Huione warranty.
“The closure of Huione’s guarantee has created an opportunity for many of these competitors to fill the void,” said Elliptic.
According to Elliptic.
Elliptical reiterates the guarantee of Huione is dead
Analysts of the blockchain analysis company reported that the activity linked to the guarantee of Huione since the so-called “stop” has not decreased but increased.
However, Elliptic said there may be confusion with the Huione guarantee and the other companies in the Huione group, notably Huione Pay, a large payment company with brick and mortar sales outlets through Cambodia which also accepts crypto as payment option and helps to wash the product of online scams.
Elliptic said that if Huione’s guarantee continued to offer entirely private transactions after closing, even transactions related to the attachment (USDT) “dropped to negligible levels” at the end of May.
“By analyzing blockchain transactions at a more granular level, it is clear that, although Huione Pay continues to try high volumes, the transactions of Huione Guarantee have indeed ceased,” said Elliptic.
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The Cambodian conglomerate Huione Group is responsible for a network of companies, which includes the Payment Pay Pay PLC Payment Service platform, the Huione Crypto Crypto and the Huione Guarantee.
The dark market ecosystem still increased
The reduction in the Huione guarantee has sent “shock waves via the guarantee market ecosystem,” said Elliptic; However, it only allowed others to take advantage of the power vacuum cleaner and develop their operations.
“This will require a broader and continuous abolition of these Telegram markets if these key factors in the global scam epidemic must be arrested,” said Elliptic.
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