TechFlame reports, according to the latest analysis from cryptocurrency tracking firm Elliptic, the Chinese-dominated crypto black market ecosystem on Telegram has reached an all-time high in scale. Some platforms built on Telegram collectively facilitate nearly $2 billion in money laundering and fraud-related transactions each month, including services for money laundering, stolen data, fake investment websites, AI deepfake tools, and human trafficking. Researchers note that these markets have surpassed dark web platforms like AlphaBay and Hydra, becoming the largest illegal online crypto markets in history.