Huiwang has collapsed, and the life-and-death crisis of the Telegram guarantee group has arrived.

On May 13th, Huiwang Guarantee officially announced the cessation of operations.

The related deposit refund work is currently progressing in an orderly manner, and the public authority business has also been transferred to Potato Guarantee.

Concerning the sanctions on Huiwang, the signs had already emerged as early as 2024. When dealing with a snake, aim for the seven inches; focus on the key points of the situation. The survival of Huiwang depends on analyzing whether its underlying operating model can endure in the long run.

The real life and death crisis of the Telegram escrow group

First of all, we all know that in Cambodia, a land of hidden talents, almost no one can stop the business development of Huiwang.

Brother Qiang was able to assert early on that not just Huiwang, but the life and death of all guarantee groups mainly depends on their parasitic host - Telegram.

Telegram has over 1 billion monthly active users, making it the second-largest messaging app after WhatsApp. We won't elaborate on the features of this software; those who understand, understand. Who are these features prepared for?

Durov and Telegram: Surviving in the Crevice

As the founders Pavel Durov and his brother Nikolai Durov said, we are defenders of free speech, which sounds like upholding justice. On this point, the founder of Bat can surely be more aware.

In fact, since its inception in 2013, Telegram has been unable to compete with other messaging service providers in terms of core technology and company background.

But they also have to survive in the cracks; it’s not something that you big companies dare to do. What’s there to be afraid of for a small company like mine? First, serve a specific large group of people to the extreme, and then expand from the point to the surface.

A "transaction"? France, Dubai, and the sanctions storm

Last year, its founder Durov was arrested in France and was released after paying a huge bail before returning to Dubai.

What a coincidence, just as it was approved, the father of a certain Wang was toppled by the American empire.

Everyone think about whether Durov reached some kind of agreement with the European leaders during this period.

Telegram: A delicious bun or a timed bomb?

Durov is also a Russian entrepreneur with multiple national passports. The Telegram he developed is not only banned in our country but is also seen as both a hot cake and a ticking time bomb in the eyes of the powerful in the United States and Europe.

Countries have tried every means to win over Durov, but this guy just refuses to listen. But then again, if he really were to be won over, it wouldn't be long before Telegram steps down from its pedestal.

The struggle between merchants and nations is destined to end.

But how can a businessman engage in a wrist wrestling match with multiple countries at the same time? The outcome is obvious.

Back in the day, the Colombian drug lord had even his family members obeying him. But if the beautiful really wants to extradite you, it's not just a show; on the surface, it seems like they are protecting you, but in reality, they are selling you out.

In comparison to a country, a businessman will obviously prioritize the greater good over minor losses.

Looking at Huiwang again: distancing itself, frantically arguing.

After we finish chatting on Telegram, let's take a look at Huiwang and see what has happened from last year to now.

First, they distanced themselves from the Huiwang Group and changed their name, then began to quibble, claiming that their KYC certification is no different from that of first-tier internet companies like Apple and Google. How can registering with an email or phone number be legal and compliant, while at my end it lacks regulation?

Are Chinese users not customers?

As for our business, it was never open to Chinese users. After all, you have already killed Telegram yourselves, how can I serve Chinese users? Therefore, clients who come to us by default are not from mainland China.

As for Huiwang International Payment, they are just our clients, treated equally like other clients.

Rejecting US business to prove innocence?

Huiwang is more straightforward, we know that the US is not to be messed with, so we never dared to engage in money flow business with the USA, nor have we issued so-called "non-freezing stablecoins".

Goodness, this helpless defense makes it seem like they are truly wronged to those who are not in the know, doesn't it? In short, it's all a matter of individual customer behavior and has nothing to do with us.

Conclusion: Strike the mountain to startle the tiger, Telegram is the target.

Alright. As for these matters, the onlookers can just take a look.

Currently, there are continuously new groups being formed on the Potato Guarantee side, and I just want to say that these group leaders still haven't woken up.

Brother Qiang gives you a piece of advice: this time the target is not Huiwang, Huiwang is just a typical example that has been caught, serving to warn others.

The real compromise is Telegram, and the entire illegal guarantee business that is parasitic within the Telegram system will not have an easy time in the days to come.