Elliptic | ForkLog

ForkLog 149 24.06.2025

Over 30 darknet markets move to fill the gap left by Huione Guarantee’s shutdown on Telegram

After the illicit online platform Huione Guarantee on Telegram shut down, Tudou Guarantee captured most of its transaction volume. Several similar marketplaces also saw user growth, according to analysts at Elliptic. The Guarantee ecosystem A sprawling network of Chinese darknet venues operates on Telegram, providing infrastructure for trading in a range of illegal goods. Most […]

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ForkLog 11 15.05.2025

Fraudulent Marketplace Haowang Shuts Down Following Telegram Channel Blockade

The largest illegal online platform, Haowang Guarantee, announced its closure. The decision followed the blocking of “thousands” of related channels by the Telegram team. According to Elliptic, Haowang processed over $27 billion in USDT. The platform operated as a marketplace for the sale of technology, data, and money laundering services, targeting clients in Southeast Asia. […]

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ForkLog 20 15.01.2025

Huione Guarantee’s illicit marketplace turnover exceeds $24bn

Analysts at Elliptic have described the online marketplace Huione Guarantee as the world’s largest illicit trading platform. Transaction volume has exceeded $24bn, and the user base has topped 900,000. New research: Huione Guarantee is the largest illicit online marketplace of all time — providing scammers with the tools they need to perpetrate pig butchering and […]

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ForkLog 6 18.07.2024

North Korean Hackers Implicated in WazirX Breach, Says Elliptic

Analysts at Elliptic tracked the movement of funds stolen from the Indian cryptocurrency exchange WazirX, which was breached today, July 18. They concluded that North Korean hackers were behind the cyberattack. The total damage from the breach is estimated at $235 million at the time of writing. More than 200 different digital assets were stolen, […]

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ForkLog 23 11.07.2024

Elliptic Uncovers Fraudulent Online Marketplace with $11 Billion in Cryptocurrency Transactions

The online marketplace Huione Guarantee, widely used by fraudsters in Southeast Asia, has processed cryptocurrency transactions amounting to at least $11 billion, according to researchers at Elliptic. A new investigation from the Elliptic research team sheds light on online marketplace Huione Guarantee. The platform is widely used by scam operators in South East Asia, including […]

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ForkLog 11 07.06.2024

Elliptic Highlights Rising Use of AI in Crypto Crimes

As with any new technology, the advancement of AI innovations in the crypto industry has spurred their use for criminal purposes, according to a report by Elliptic. Experts from the company identified five main typologies for such criminal activities: the use of generative AI to create deepfakes and promotional materials for scams; execution of fraud […]

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ForkLog 11 02.05.2024

Elliptic Harnesses AI to Detect Bitcoin Money Laundering

Elliptic has developed an artificial intelligence-based system capable of effectively detecting money laundering through Bitcoin transactions. The research involved scientists from the MIT-IBM Watson AI Lab. The team used a dataset of nearly 200 million transactions to train the model to identify not individual illegal operations, but entire “subgraphs”. Training data includes “subgraphs” — transaction […]

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ForkLog 8 26.10.2023

Elliptic points to negligible share of cryptocurrency in Hamas financing

The latest data on the scale of cryptocurrency fundraising by terrorist groups distort the reality, according to Elliptic analysts.

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ForkLog 11 17.10.2023

Garantex comments on Hamas-financing allegations

Garantex assets allegedly tied to financing militants could have been sent to a client for services rendered, or as part of an exchange transaction.

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ForkLog 12 12.10.2023

Elliptic Finds Link Between Russia and Laundering of FTX Assets

There is a strong likelihood that a broker or other intermediary linked to Russia participated in laundering part of the funds stolen from FTX in November 2022. Experts from Elliptic arrived at this conclusion.

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ForkLog 11 05.10.2023

Elliptic: criminals launder $7bn through cross-chain solutions

The volume of illicit crypto assets laundered using cross-chain operations reached a record $7bn over the year, according to Elliptic's report.

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ForkLog 9 21.07.2023

Elliptic outlines fentanyl supply scheme paid in cryptocurrency

Chinese suppliers of the synthetic opioid fentanyl hold more than $32 million in crypto wallets, largely sourced from centralized exchanges.

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