Tudou Guarantee Telegram Marketplace
Summary
Tudou Guarantee was a Chinese-language, Telegram-based illicit marketplace that processed over $12 billion in USDT transactions, making it the third-largest such marketplace in recorded history. Operated as an escrow and guarantee service for vendors selling stolen data, money laundering services, scam infrastructure, and AI deepfake tools to pig-butchering and other fraud operators, it emerged as the primary successor to Huione Guarantee following that platform's May 2025 shutdown. Tudou ceased public Telegram transactions in January 2026 following the arrest and extradition of Prince Group chairman Chen Zhi to China.
Connected Entities
1 entities · 10 linked investigations- + 6 more
Timeline(16 events)
2023-01-01
Tudou Guarantee launches on Telegram as a Chinese-language illicit guarantee marketplace. Exact launch date is not publicly documented; 2023 is the reported year of inception.
Infosecurity Magazine2024-12-01
Huione Guarantee acquires a 30% stake in Tudou Guarantee, positioning Tudou as an operational successor should Huione face enforcement action.
Elliptic2025-05-01
FinCEN finds Huione Group to be a foreign financial institution of primary money laundering concern and proposes a special measure under Section 311 of the USA PATRIOT Act.
FinCEN2025-05-11
Telegram shuts down Huione Guarantee's public channels. Huione formally directs its merchant network to migrate to Tudou Guarantee. Tudou experiences a 70-fold increase in daily USDT inflows.
TRM Labs2025-07-01
Tudou Guarantee's user base more than doubles following Huione merchant migration. Cryptocurrency inflows reach approximately equal levels to those Huione received prior to its shutdown.
Elliptic2025-10-14
OFAC and UK FCDO designate Prince Group as a Transnational Criminal Organization, sanctioning 146 associated entities and individuals including Chen Zhi. DOJ simultaneously unseals criminal indictment against Chen Zhi in the Eastern District of New York.
U.S. Treasury2025-10-16
FinCEN issues final rule severing Huione Group from the U.S. financial system, prohibiting correspondent banking relationships.
FinCEN2025-11-20
Singapore Police arrest Tan Yew Kiat (49) on money laundering charges linked to the Prince Holding Group network. Assets including vehicles are subject to prohibition of disposal orders.
Singapore Police Force2025-12-11
Singapore Police arrest Nigel Tang Wan Bao Nabil (32) on money laundering charges linked to Prince Holding Group upon his return from Cambodia.
Singapore Police Force2026-01-01
Tudou Guarantee begins returning merchant deposits. Bitrace records approximately $3.7 million in USDT refunds on this date, marking the start of the coordinated wind-down.
Cryptonomist / Bitrace2026-01-05
Tudou Guarantee USDT refund outflows peak at approximately $18.1 million in a single day, according to Bitrace on-chain data.
MEXC News / Bitrace2026-01-06
Chen Zhi, chairman of Prince Group, is arrested by Cambodian authorities and extradited to China. Cambodian citizenship was revoked prior to arrest.
CNN2026-01-07
Elliptic's real-time blockchain monitoring records a sudden drop in activity across Tudou Guarantee's administrative wallets, consistent with operational cessation.
Elliptic2026-01-12
Singapore Police arrest Yeo Sin Huat Alan (53) on money laundering charges linked to Prince Holding Group upon his return from Cambodia.
Singapore Police Force2026-01-16
Total USDT refunded to Tudou Guarantee merchants exceeds $130 million, per Bitrace analysis. Closure announcement confirmed through Telegram channel screenshots.
Cryptonomist / Bitrace2026-04-01
Li Xiong, alleged chairman of Huione Group and key operational figure linked to Tudou Guarantee's parent network, is extradited from Cambodia to China.
BeInCrypto / OCCRPDecision Log
- hash: 8Eu2xBRVcP2dN4x1vvPNwoAKRyCa41rX4UP89F9RQ1yu
This investigation is cryptographically anchored to the Solana blockchain and source URLs are archived via the Internet Archive.
model: claude-code-investigator
generated: 6/8/2026, 1:21:58 AM
last updated: 6/8/2026, 1:22:04 AM
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