Inside the Crypto Laundering Networks of Gambling Syndicates

Online playing platforms linked to sanctioned assure networks have processed over 414 million USDT in income in lower than two months, with tens of millions flowing on to main cryptocurrency exchanges.

New knowledge from blockchain intelligence agency Bitrace exhibits how these operations proceed at scale regardless of current legislation enforcement actions in opposition to their cost suppliers.

Gambling Platforms Keep Operating After Huione-Linked Shutdowns

According to Bitrace’s investigation, a selected trio of crypto wallets, specifically Huione Telegram Wallet, Wangbo Wallet, and HWZF (referring to each Huionepay and Overseaspay), act as the predominant settlement instruments for playing operations linked to the Huione and Tudou Guarantee platforms.

These Telegram-based assure markets had been designed to facilitate transactions for items and companies however advanced into hubs for illicit exercise, together with rip-off operations and cash laundering.

Bitrace revealed that on-line playing platforms usually be part of the platforms, which act as escrow-style marketplaces on Telegram. Once onboarded, the playing websites combine third-party crypto cost suppliers by way of Telegram mini apps, permitting gamers to deposit and withdraw funds with out interacting straight with exchanges.

While Huionepay and Tudou Guarantee have already shut down, Bitrace identified that playing platforms that relied on their companies are nonetheless working and processing giant volumes of crypto. The agency stated these gambling-related entities acquired a mixed 414 million USDT throughout a 53-day interval, primarily by way of the Telegram-based cost instruments.

Multiple intelligence sources cited by Bitrace linked Huione Telegram Wallet, Wangbo Wallet, and HWZF to fund settlement for playing operations linked to Huione, Haowang, and Tudou Guarantee. The agency stated Wangbo Wallet and Huionepay seem to share the similar software program backend, that means consumer funds are pooled fairly than saved separate.

Despite repeated warnings from cost suppliers advising customers to not ship funds on to centralized exchanges, Bitrace tracked round 9 million USDT flowing straight into platforms reminiscent of Binance, OKX, and HTX throughout the similar 53-day window. The agency stated these transfers threat triggering compliance critiques, however are nonetheless shifting regardless.

Telegram Markets and Exchanges Part of the Same Pipeline

The findings observe years of scrutiny on Huione Group, which U.S. authorities labeled a “main cash laundering concern” in October 2025 after a joint motion by OFAC, FinCEN, and UK companies. Prosecutors additionally unsealed prices and a $15 billion civil forfeiture case tied to Huione-linked operations.

Huione Guarantee, later rebranded as Haowang Guarantee, processed greater than $24 billion in transactions earlier than its shutdown in May 2025. After Telegram eliminated 1000’s of channels, distributors migrated to Tudou Guarantee, which absorbed a lot of the exercise.

Investigations by Elliptic and the International Consortium of Investigative Journalists (ICIJ) present that these marketplaces support rip-off teams, cash launderers, and on-line playing operators utilizing USDT for settlement. Even after sanctions, Huione-linked entities sent lots of of tens of millions of {dollars} by way of main exchanges between mid-2024 and mid-2025, ICIJ reported in November 2025.

Bitrace’s newest knowledge suggests the similar mannequin stays energetic. Wallet branding modifications, shared infrastructure, and Telegram-based instruments enable playing syndicates to maintain amassing income whereas limiting direct publicity.

For exchanges and regulators, the continued move of funds factors to unresolved gaps between market shutdowns, pockets suppliers, and exchange-level controls.

The submit Inside the Crypto Laundering Networks of Gambling Syndicates appeared first on CryptoPotato.