Huione Shutdown Sparks Surge in 30 New Darknet Markets

- Huione Guarantee's closure causes ripple effects in the darknet market. - Tudou Guarantee emerges as a primary beneficiary with significant growth. On June 24, 2025, Cointelegraph reported that the shutdown of Huione Guarantee, a major crypto darknet marketplace, in May 2025 significantly disrupted the ecosystem. The report detailed that this closure occurred after Telegram banned thousands of Huione Guarantee's associated accounts and channels, an event which triggered a surge in activity across 30 new marketplaces. Tudou Guarantee, in particular, experienced remarkable growth as a result. Huione Guarantee's demise prompted the emergence of at least 30 other marketplaces, with these new platforms striving to fill the void. Among them, Tudou Guarantee has notably benefited, reportedly doubling its user base and transaction volume since May. Furthermore, Cointelegraph reported on June 24 that, according to Elliptic, a blockchain analysis firm, Tudou Guarantee's cryptocurrency inflows have reached levels comparable to those Huione Guarantee maintained before its shutdown. Merchants who previously operated on Huione Guarantee have reportedly migrated to Tudou and other platforms, where they continue to offer illicit goods and services, such as stolen data and money laundering. Cointelegraph also noted on June 24 an interesting development: Huione Guarantee had acquired a 30% stake in Tudou Guarantee in December 2024. Cointelegraph's report on June 24 further detailed observations from Chainalysis analysts indicating that activities associated with Huione Guarantee had not decreased but rather grown. However, Elliptic, as cited in the Cointelegraph report, suggests this perceived activity might stem from confusion with Huione Group's other ventures, such as Huione Pay. Elliptic firmly stated that Huione Guarantee's transactions had ceased by late May, while Huione Pay remains active. The firm emphasized that the closure sent "shockwaves" through the market, creating opportunities for competitors. Additionally, Elliptic pointed out the necessity of continued efforts to remove these marketplaces from platforms like Telegram to help curtail global scams. On June 24, CoinMarketCap reported that as of 12:00 UTC that day, Bitcoin (BTC) was trading at $25,650. Its 24-hour trading volume had increased by 1.4%.