According to WIRED, the Chinese-dominated encrypted black market ecosystem on Telegram has reached an all-time high. Elliptic's latest analysis shows that platforms like 'Potato Guarantee' and 'New Currency Guarantee' facilitate nearly $2 billion in money laundering and fraud-related transactions each month, including money laundering services, stolen data, fake investment websites, AI deepfake tools, and human trafficking. Researchers point out that these markets have surpassed dark web platforms like AlphaBay and Hydra, becoming the largest illegal online crypto market in history.