Darknet Marketplaces Uptick After Huione Shutdown

[PAI]

The shuttering of major crypto darknet marketplace Huione Guarantee has seen its users flock to at least 30 successors, with one marketplace doubling its user base since May.

Huione Guarantee shut down in May after Telegram banned thousands of its associated accounts and channels.

Elliptic said in a report on Monday that in the aftermath of the shutdown, several Telegram marketplaces saw user numbers increase, but Tudou Guarantee was the “primary winner,” capturing much of Huione’s former transaction volume.

Tudou Guarantee has emerged as the clear beneficiary to the closing of Huione Guarantee. Source: Elliptic​

“Tudou Guarantee has seen users more than double — and cryptocurrency inflows are now approximately equal to those seen for Huione Guarantee prior to its shutdown,” Elliptic said.

Merchants make the switch, too​

Along with users, merchants who formerly operated on Huione Guarantee have also moved to Tudou, offering stolen data, money laundering services, illicit goods and other products to help scammers snare victims.

Along with Tudou, Elliptic is tracking over 30 other Telegram-based dark markets that experienced an uptick in users and volume after the Huione Guarantee shut down.

Tudou offers users a space to buy all manner of illicit services, including stolen data for sale and money laundering. Source: Elliptic​

“The closure of Huione Guarantee has created an opportunity for many of these competitors to fill the gap,” Elliptic said.

Huione Guarantee is also a major shareholder in Tudou after acquiring a 30% stake last December, according to Elliptic.

Elliptic reiterates Huione Guarantee is dead​

Analysts at blockchain analysis firm Chainalysis have reported that activity linked to Huione Guarantee since the so-called “shutdown” hasn’t declined but instead grown.

However, Elliptic said there may be a mix-up with Huione Guarantee and Huione Group’s other businesses, most notably Huione Pay, a large payments business with brick-and-mortar outlets across Cambodia that also accepts crypto as a payment option and helps launder the proceeds of online scams.

Elliptic said while Huione Guarantee continued to offer escrow services for private transactions following the shutdown, even those related Tether (USDT) transactions “dropped to negligible levels” by late May.

Elliptic said transactions on Huione Guarantee have dropped off completely after the shutdown. Source: Elliptic​

“By analyzing blockchain transactions at a more granular level, it is clear that, although Huione Pay continues to transact high volumes, Huione Guarantee’s transactions have effectively ceased,” Elliptic said.

Related: AI-driven crypto crime is only just beginning — Elliptic report

Cambodian conglomerate Huione Group is responsible for a network of businesses, which includes the payment service platform Huione Pay PLC, the crypto exchange Huione Crypto and Huione Guarantee.

Dark market ecosystem still growing​

Taking down Huione Guarantee sent “shockwaves through the guarantee market ecosystem,” Elliptic said; however, it has only allowed others to take advantage of the power vacuum and grow their operations.

“It will require wider, ongoing removal of these marketplaces from Telegram if these key enablers of the global scam epidemic are to be stopped,” Elliptic said.

Magazine: Coinbase hack shows the law probably won’t protect you: Here’s why




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[Brenda32]

How to Recover Stolen Cryptocurrency: A Step-by-Step Guide



Losing cryptocurrency to a scam or hack can be devastating. Many victims immediately search for ways to recover stolen cryptocurrency, hoping to reverse the damage. While recovery is never guaranteed, you can take important steps to improve your chances and avoid falling for a second scam.

1. Document Everything Immediately

Act fast and gather evidence:

•Save transaction IDs (TXIDs) and wallet addresses.

•Take screenshots of websites, emails, or chats with scammers.

•Record the date, time, and exact amount stolen.



This documentation will be critical for exchanges, law enforcement, or blockchain forensics.

2. Report the Theft to Your Exchange or Wallet Provider

If your stolen funds passed through a centralized exchange (like Binance, Coinbase, or Kraken):

•File a report through their official support pages (avoid search ads).

•Provide transaction details and evidence.

•Ask whether the funds can be flagged or frozen.

3. Report to Cybercrime Authorities

Reporting increases the likelihood of recovery, especially when funds cross borders.

•Global: File reports with the FBI IC3, Europol, Via: [email protected]

•Interpol: Cases can be escalated through national police agencies.

4. Trace Stolen Crypto with Blockchain Explorers

Blockchain transactions are irreversible but transparent. Use tools to monitor stolen funds:

•Etherscan for Ethereum tokens

•Tronscan for TRON and USDT

•Blockchain.com Explorer for Bitcoin

5. Watch Out for Fake “Recovery Services”

Scammers often target victims again with false promises. Be alert for:

•Guaranteed recovery claims

•Upfront payment requests

•Contact only via Telegram/WhatsApp

•Requests for private keys or seed phrases

Remember: no legitimate company will ever ask for your seed phrase.

6. Strengthen Your Security for the Future

Even if recovery is not possible, protect yourself from repeat incidents:

•Store assets in hardware wallets (Ledger, Trezor).

•Enable 2FA (two-factor authentication) on all exchanges.

•Bookmark official exchange websites — avoid phishing links.

•Never share your private keys.

Final Thoughts

Recovering stolen cryptocurrency is difficult, but taking the right steps immediately can make a difference. Document everything, alert your exchange, report to cybercrime authorities, and avoid recovery scams.



The best protection is prevention — but if you’ve already fallen victim, acting quickly and using official channels gives you the best chance of recovery. Forward all your documented evidence to the appropriate authorities:

[email protected]