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You are here: Home / News / Crypto Scam / $27 Billion Crypto Scam Empire Huione Has Been Dismantled By Telegram 
Crypto Scam

$27 Billion Crypto Scam Empire Huione Has Been Dismantled By Telegram 

June 25, 2025 by Onyi

  • In May 2025, Telegram carried out one of the largest crackdowns on crypto fraud by disabling Huione’s mediums of money laundering.
  • Before the Telegram shutdown, Huione had managed to acquire a 30% stake in Tudou Guarantee, allowing for a smooth migration of users. 

Crypto scam empire Huione was dismantled by Telegram in what appears to be one of the largest crackdowns on cryptocurrency fraud this year. Telegram reportedly shut down channels through which the scheme operated.

However, this move did not completely put an end to the platform’s operations, as rival messaging apps quickly absorbed the ‘displaced’ criminal user base and helped users migrate to other platforms. The whole situation has caused many in the crypto space to wonder about the role different platforms play in fostering and combating crypto crimes.

Also Read: Massive $50M Crypto Scam Exposed Involving SUI and NEAR Tokens

The Crypto Scam Operations Continue Despite Telegram Ban

Earlier in May, Huione announced the end of its operations on Telegram. According to details, Telegram ended the platform’s main online hub for Chinese-speaking crypto fraud operations. It also removed almost all the individuals linked to the market used by sellers to carry out money laundering. 

However, before the platform operations were shut down on Telegram, it was recorded that the group secured a 30% stake in Tudou Guarantee in December 2024. 

This smart move allowed for a seamless transfer of the members. Due to this move, activities on Tudou jumped, reaching over 300,000 users by June 15. 

Screenshot 20250624 171427 Chrome
ELLIPTIC

The transfer was almost seamless as former Huione sellers quickly continued the same offerings, including identity theft, financial cover-ups, and tools for online romance scams aimed at Westerners. As Tudou gained ground, other smaller sites also started to see similar growth.

A report from Elliptic shows that Shuangying jumped from 40,000 to 110,000 user activity, while Fully Light grew from 20,000 to over 80,000.

Even though Telegram has tried to help by taking down thousands of communication and operation channels, the report still has it that Huione’s main system for handling crypto fraud is still operational. 

Also Read: Best Crypto Presale to Buy 2025 – 6 Coins with Explosive Growth




Filed Under: Crypto Scam, News Tagged With: Crypto Scam, Huione, Huione crypto scam, Telegram

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