Report: Telegram Hosts Largest-Ever Crypto Black Market
A new probe by blockchain analytics firm Elliptic finds Telegram has become the largest known crypto black market in history, with Chinese-speaking users handling about $2 billion in crypto every month. Investigators say the platform’s low barrier to entry, fast relaunch of banned channels and organized Chinese‑language moderation have made illicit trading and services far easier to run than on traditional darknet markets.
The shift matters because it moves large-scale illicit crypto activity onto mainstream social messaging, complicating law enforcement and compliance efforts. Firms and regulators now face social-media dynamics — rapid channel resurrection and private group moderation — rather than purely technical obfuscation. That increases AML risk for off‑ramp services and raises pressure on platforms like Telegram to better enforce policies, while analytics teams and authorities must adapt tactics to track activity dispersed across private channels.