The apparent shutdown follows years of scrutiny of one of crypto’s largest fraud marketplaces.
A Telegram-based escrow service linked to an illicit online marketplace appears to be winding down operations after refunding more than $130 million in stablecoins, a move that analysts say may disrupt a major hub for crypto-related scams.
Tudou Guarantee, a service linked to the Huione Group, has apparently refunded $130 million in Tether USDt (USDT) to the group’s public merchants since the beginning of 2026, according to data shared by blockchain analytics company Bitrace. Refunds began with about $3.7 million on Jan. 1 and peaked at about $18.1 million on Sunday, Bitrace said.
Earlier on Friday, the company seemingly announced the shuttering of operations through its Telegram channel, according to screenshots shared by Bitrace.
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