Telegram a haven for crypto launderers and fraudsters, reports UN

Telegram has become a haven for criminal networks in Southeast Asia, helping them to launder stolen funds using crypto, trade hacked data, and acquire tools for fraud, according to a United Nations (UN) report.

As reported by Reuters, the UN says the end-to-end encrypted app has fundamentally changed how organized crime operates. It found criminal enterprises in Southeast Asia, including Chinese syndicates, reportedly make between $27.4 billion and $36.5 billion annually.

Unlicensed crypto exchanges are also reportedly advertising money laundering services on the app. One advert identified by the UN claimed, “We move three million USDT stolen from overseas per day.” 

Criminal networks use Telegram to trade stolen sensitive information, from credit details to passwords, and buy up malware designed to steal funds. At least 10 deepfake software providers were also found to be advertising their services to criminals. 

Read more: Are Telegram chats actually encrypted?

The UN has previously described tether (USDT) as the stablecoin of choice for criminal networks in Asia. Indeed, earlier this year, a filed indictment detailed that somewhere in the region of $35.4 million had been stolen from victims of a pig butchering scam and converted into USDT.

Chinese authorities also dismantled an underground banking group accused of facilitating almost $2 billion worth of illicit transactions using USDT. 

Telegram founder Pavel Durov was arrested in August and charged with allowing Telegram to facilitate drug trafficking, sexual images of children, and criminal transactions.  

Durov has since introduced various changes to the platform, dropping a ‘people nearby’ feature and removing references in the FAQ to private chats being protected.

Got a tip? Send us an email or ProtonMail. For more informed news, follow us on X, Instagram, Bluesky, and Google News, or subscribe to our YouTube channel.