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WIRED citing blockchain analysis firm Elliptic reports that although the UK government officially sanctioned the Chinese black market platform Xinbi Guarantee at the end of March, identifying its involvement in crypto scams, money laundering, and human trafficking, Telegram continues to host related channels. Data shows that the platform has facilitated illegal transactions totaling $21 billion, with approximately $505 million in transactions completed within just 19 days after the sanctions, and tens of thousands of new users added, bringing the total user count close to 500k.