The Fall of Huione Guarantee and the Rise of Its Successors
The shutdown of Huione Guarantee, a major crypto darknet marketplace, has reshaped the underground digital economy. Blockchain analytics firm Elliptic reports this closure created opportunities for at least 30 competing platforms to emerge, with Tudou Guarantee becoming the primary beneficiary by doubling its user base and matching Huione’s former transaction volume.
Marketplace Migration Trends
Following Huione Guarantee’s closure, merchants and users rapidly migrated to alternative platforms. These successor marketplaces continue offering illicit services including stolen data sales and money laundering solutions. This transition demonstrates the darknet ecosystem’s remarkable adaptability when dominant players exit.
Elliptic’s Transaction Analysis
Elliptic’s detailed blockchain analysis confirms Huione Guarantee’s transactions effectively ceased after its shutdown, despite some reports suggesting continued activity. The firm notes the ongoing challenge of removing these marketplaces from platforms like Telegram, where they frequently operate.
Huione Group’s Business Network
Cambodian conglomerate Huione Group maintains connections to multiple cryptocurrency businesses including Huione Pay and Huione Crypto. Elliptic’s investigation reveals how these legally operating entities intersect with darker marketplace operations, complicating enforcement efforts.
Key Developments
- 30+ new marketplaces emerged after Huione Guarantee’s shutdown
- Tudou Guarantee absorbed most former Huione users and transaction volume
- Merchants quickly transitioned to new platforms offering similar illicit services
- Elliptic confirms Huione Guarantee’s operations have fully ceased
- Telegram remains a primary platform for these marketplace operations
