Telegram-Based Chinese Marketplace Facilitated $8.4 Billion in Transactions Since 2022

A Chinese-language marketplace based on Telegram, known as Xinbi Guarantee, has facilitated at least $8.4 billion in transactions since 2022, according to a report published by blockchain analysis company Elliptic. This black market is the second to be exposed after HuiOne Guarantee. Traders on this platform were found selling technology, personal data, and money laundering services.