Telegram bans $35B black markets used to sell stolen data, launder crypto

Telegram has taken a major step in combating cybercrime by shutting down two key platforms linked to $35 billion in fraud since 2021. These marketplaces, which were far more profitable than Silk Road, a well-known drug marketplace recently seized by the FBI, have gone offline on Tuesday after Telegram's decision. As a result, criminals and scammers lose critical tools for money laundering, accessing stolen data, and telecom infrastructure. Meanwhile, the U.S. Treasury has imposed restrictions on Huione Guarantee to prevent further misuse of its financial ties to criminal activities.