Telegram Cracks Down on Suspected $8B Chinese Crypto Crime Marketplace Set Up in Colorado

Messaging app Telegram has closed thousands of channels belonging to suspected Chinese crypto-crime marketplaces after new research shed light on the situation, according to Elliptic.The closure follows a report published by the blockchain analytics firm on Tuesday into the fast-growing Telegram-based marketplace called Xinbi Guarantee.The Colorado-incorporated marketplace has processed over $8.4 billion worth of transactions using Tether’s USDT stablecoin since 2022 source: https://www.coindesk.com/business/2025/05/14/telegram-cracks-down-on-suspected-8b-chinese-crypto-crime-marketplace-set-up-in-colorado