The notorious Huione darknet marketplace continues processing billions in cryptocurrency transactions despite its announced shutdown last month. Blockchain analytics firm Chainalysis reveals the platform's activity remains at peak levels, with transaction volumes actually increasing after regulatory actions.
After Telegram banned thousands of associated accounts in May, the platform rebranded as Haowang Guarantee while maintaining identical operations. 【TRM Labs data shows】 the network has processed over $81 billion since 2021 - dwarfing the Russian Hydra marketplace's $5 billion volume. The ecosystem facilitates pig-butchering scams, cyber heists, and serves as a money laundering conduit for North Korea's Lazarus Group.
U.S. Treasury's FinCEN attempted to sever Huione's banking access on May 1, but Chainalysis data shows transaction volume grew 23% in the following weeks. ——This demonstrates the limitations of unilateral enforcement actions against decentralized criminal networks——. The platform's cryptocurrency exchange has already resurfaced under a new domain while retaining its original branding.
Operating under the umbrella of Cambodia's Huione Group, the network includes payment processor Huione Pay and multiple crypto services. Analysts note its corporate structure provides legal camouflage while enabling cross-border criminal operations at industrial scale.
Chainalysis emphasizes that traditional takedown approaches fail against such resilient architectures. The firm advocates coordinated, multi-jurisdictional strategies targeting the ecosystem's underlying financial and technical infrastructure. As one investigator noted: "We're not fighting websites anymore, but parallel financial systems."
With VIP channels still active on Telegram and new domains constantly emerging, Huione exemplifies the cat-and-mouse game between regulators and darknet operators. The platform's 【67% month-over-month growth】 after enforcement actions underscores the urgent need for innovative countermeasures in the crypto crime landscape.