Telegram-based illicit billionaire marketplace Tudou Guarantee stopped transactions

Major Telegram-based illicit marketplace Tudou Guarantee appears to be shutting down its operations, according to Elliptic. Blockchain cybersecurity firm Elliptic reports that Tudou Guarantee, a major Telegram-based illicit marketplace in Southeast Asia, has stopped transactions in its public groups after handling over $12 billion, though other services still run, so a full shutdown is unclear.

The piece notes that Tudou has processed over $12 billion in transactions since its inception, making it the third-largest illicit marketplace of all time, with other parts such as gambling continuing to function. Tudou’s rise followed the May 2025 shutdown of Huione, which prompted merchants to move to Tudou, and Huione had already bought a 30% stake in Tudou in 2024.

The report traces the shutdown movement to the broader collapse of Prince Group, which led to sanctions in October 2025 and the January 2026 arrest and extradition of its chairman Chen Zhi, after which activity in Tudou’s main crypto wallets sharply declined.