On May 15, Haowang Guarantee (formerly Huione Guarantee) announced on its official website that "all of the company's Non-Fungible Tokens, channels, and groups have been blocked by Telegram, and Haowang Guarantee will cease operations from now on."
According to Wired, Haowang Guarantee's move is a response to Telegram's actions on Monday, which banned thousands of accounts that formed the infrastructure of a large third-party supplier market, many of which provided money laundering and other services for the thriving East Asian cryptocurrency fraud industry.
Previously, a United Nations report in April pointed out that illegal cryptocurrency projects like Haowang Guarantee are "powerful tools" for cybercrime groups.
