Huione and Xinbi Market Resurface on Telegram Despite Bans

Two notorious illicit cryptocurrency marketplaces, Huione and Xinbi, have reappeared on Telegram despite bans imposed by the platform. Blockchain intelligence firm TRM Labs has uncovered evidence of their relaunch, highlighting a recurring pattern in cybercrime where platforms facing closure swiftly adopt new identities and methods for operation. ^{1 2} The resurgence comes as these platforms continue to facilitate high-risk transactions, potentially exceeding previous illicit marketplaces like Hydra and Silk Road in volume.