Chinese-Language 'Guarantee Marketplaces' Fuel Phishing and Money Laundering Networks

New research from Recorded Future examines Tajin Group, a third-party vendor operating on two Telegram-based Chinese-language guarantee marketplaces known as Dabai Guarantee and Xinbi Guarantee. These marketplaces act as trust-based hubs where criminal vendors advertise and sell services, and the report looks at how Tajin Group runs its operations, competes with other groups, and adapts as its environment changes.

The research also found that users and vendors on these marketplaces are increasingly turning to third-party services to buy and sell Telegram usernames and anonymous virtual numbers. This allows criminals to link multiple usernames and virtual numbers, instead of traditional SIM cards, to a single Telegram account. This is a deliberate operational security move that helps these groups avoid detection while still reaching a wide pool of potential victims.

The activities linked to Tajin Group and similar vendors, including phishing, payment card theft, and money laundering, pose risks to banks, fund transfer providers, cryptocurrency exchanges, and everyday individuals targeted by scams. Because guarantee marketplaces can be lucrative, researchers warn that other criminal groups are likely to copy these tactics on a wider, global scale.