PANews reported on May 15th that Haowang Guarantee (originally Huione Guarantee) recently announced on its official website that all of its Non-Fungible Tokens, channels, and groups have been blocked by Telegram, and Haowang Guarantee will cease operations immediately. According to Wired, this move is a response to Telegram's action 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 Huione Guarantee and other illegal cryptocurrency projects are powerful tools for cybercrime groups.
