The shutdown of Huione Guarantee, a crypto darknet marketplace, has led to the rise of 30 successors, with Tudou Guarantee capturing much of its former transaction volume. Elliptic and Chainalysis report increased activity in the darknet market ecosystem, though Huione Guarantee's transactions have effectively ceased after its shutdown in May.

Telegram banned two Chinese-language black markets for crypto scams, but after their removal, smaller markets like Tudou Guarantee have rebuilt, enabling billions in illicit transactions. Elliptic's report highlights the persistence of crypto scams, including money laundering and forced labor, despite Telegram's initial crackdown. The platform has not taken down new accounts linked to these markets, despite violations of its terms of service.

A joint report from Bitget, SlowMist, and Elliptic highlights the rise of AI-powered crypto crime, emphasizing social engineering scams that exploit human psychology. The report warns of deepfake technology being used in 40% of high-value frauds in 2024, including AI-generated videos of public figures and phishing attacks. It provides guidance on mitigating risks through skepticism, verification, and tools like ScamSniffer and MistTrack.

Elliptic Labs and Ceva announced a collaboration to integrate Elliptic Labs' AI Virtual Smart Sensor Platform with Ceva's NeuPro-Nano NPU, enabling next-generation edge computing capabilities for low-power devices. The partnership accelerates development of intelligent sensing features across AIoT applications, including noise-cancelling earbuds, smart displays, and industrial sensors.

The article discusses the rise of illicit online marketplaces operating via Telegram, which facilitate large-scale fraud using cryptocurrency. These platforms, such as Huione Guarantee and Xinbi Guarantee, enable global scams through Tether (USDT) and have been linked to significant financial transactions. Elliptic's investigation highlights the regulatory challenges posed by these crypto-fueled illegal activities.