Elliptic: Nearly $2 billion in illicit funds, including Chinese-language encrypted fraud, flow through Telegram monthly.

According to a recent analysis by cryptocurrency tracking firm Elliptic, the predominantly Chinese-language cryptocurrency black market ecosystem on Telegram has reached an all-time high. Platforms built on Telegram are facilitating nearly $2 billion monthly in money laundering and fraud-related transactions, 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 to become the largest illicit online cryptocurrency market in history. (Wired)