{"investigation":{"slug":"huione-group-haowang-guarantee","entity_name":"Huione Group (Haowang Guarantee)","trust_score":0,"severity_base":null,"score_modifier":-5.88,"confidence":0.97,"status":"under_investigation","content_type":"investigation","summary":"Huione Group is a Cambodia-based conglomerate whose Telegram-based Huione Guarantee (Haowang Guarantee) marketplace has been described by Elliptic as the largest illicit online marketplace ever recorded, and whose payments arm Huione Pay and related entities have been linked to laundering of pig-butchering, North Korean and other cybercrime proceeds. FinCEN proposed in May 2025 and finalized in October 2025 a Section 311 primary money laundering concern designation, Telegram removed its channels in May 2025, Huione Pay was placed in liquidation, and on June 23, 2026 the U.S. Department of Justice seized the cloud infrastructure used by Huione subsidiaries under Operation Riptide. Reported volumes range from $24-31 billion for the marketplace to about $134 billion across the group.","sections":[{"content":"On June 23, 2026, the U.S. Department of Justice announced the seizure of a cloud computing account that served as the technological backbone for Huione Group subsidiaries, including Huione Guarantee (also known as Haowang Guarantee). The action was executed by the FBI's San Francisco Field Office and IRS Criminal Investigation as part of Operation Riptide, an FBI campaign against the actors, infrastructure and financial networks behind cybercrime and fraud against Americans. Assistant Attorney General A. Tysen Duva stated: 'Seizures of these marketplaces is critical in the fight against fraud.' U.S. Attorney Craig H. Missakian stated: 'We will not allow individuals or companies to exploit our country's technology to defraud hardworking Americans.' Chainalysis, Elliptic and Google's CyberCrime Investigation Team assisted investigators in tracing cryptocurrency flows. Elliptic's analysis concluded that Huione Guarantee and Huione Pay together received approximately $134 billion in cryptocurrency, which it described as the largest criminal marketplace and money laundering operation of its kind ever documented.","heading":"DOJ Infrastructure Seizure (June 2026)","sources":[{"url":"https://www.justice.gov/opa/pr/justice-department-seizes-backend-infrastructure-used-huione-group-money-laundering-services","name":"Justice Department Seizes Backend Infrastructure Used by the Huione Group for Money Laundering Services","type":"regulatory","credibility":1},{"url":"https://decrypt.co/371950/doj-seizes-huione-infrastructure-linked-to-billions-in-crypto-laundering","name":"DOJ Seizes Huione Infrastructure Linked to Billions in Crypto Laundering — Decrypt","type":"news_article","credibility":2},{"url":"https://www.elliptic.co/blog/behind-the-fbi-case-against-huione","name":"Behind the FBI Case Against Huione: the $134 Billion Marketplace and Money Laundering Operation — Elliptic","type":"research","credibility":2},{"url":"https://ffnews.com/news/fbi-leverages-elliptic-intelligence-to-take-down-134-billion-huione-criminal-network","name":"FFNews — FBI Leverages Elliptic Intelligence to Take Down $134 Billion Huione Criminal Network","type":"news_article","credibility":2},{"url":"https://www.cryptotimes.io/2026/06/25/chainalysis-details-doj-takedown-of-huiones-crypto-crime-hub/","name":"CryptoTimes — Chainalysis Details DOJ Takedown of Huione's Crypto Crime Hub","type":"news_article","credibility":2}],"severity":"critical"},{"content":"FinCEN issued a Notice of Proposed Rulemaking under Section 311 of the USA PATRIOT Act on May 1, 2025, identifying Huione Group as a foreign financial institution of primary money laundering concern. On October 15, 2025 it issued a final rule, as part of a coordinated U.S. and UK action that Treasury described as the largest ever against cybercriminal networks in Southeast Asia, prohibiting covered U.S. financial institutions from maintaining correspondent accounts for or on behalf of Huione Group and effectively severing it from the U.S. financial system. FinCEN found Huione Group laundered at least $4 billion in illicit proceeds between August 2021 and January 2025, including approximately $37 million ($37.6 million in one account) linked to cyber heists conducted by the Democratic People's Republic of Korea (DPRK), approximately $36 million from convertible-virtual-currency investment scams including pig-butchering, and about $300 million from other cyber fraud.\n\nConcurrent with the June 2026 DOJ seizure, FinCEN issued a Notice of Proposed Rulemaking to extend the rule's definition of Huione Group to H-Pay Service PLC, a successor entity regulators assessed was created to circumvent the October 2025 ban. Another account describes H-Pay as a rebrand of Huione Pay adopted after the December 2025 bank run.","heading":"FinCEN Section 311 Designation and H-Pay Proposed Rule","sources":[{"url":"https://www.fincen.gov/news/news-releases/fincen-finds-cambodia-based-huione-group-be-primary-money-laundering-concern","name":"FinCEN — Finds Cambodia-Based Huione Group to be of Primary Money Laundering Concern","type":"regulatory","credibility":1},{"url":"https://www.fincen.gov/news/news-releases/fincen-issues-final-rule-severing-huione-group-us-financial-system","name":"FinCEN — Issues Final Rule Severing Huione Group from U.S. Financial System","type":"regulatory","credibility":1},{"url":"https://www.federalregister.gov/documents/2025/10/16/2025-19571/imposition-of-special-measure-regarding-huione-group-as-a-foreign-financial-institution-of-primary","name":"Federal Register: Imposition of Special Measure Regarding Huione Group as a Foreign Financial Institution of Primary Money Laundering Concern","type":"regulatory","credibility":1},{"url":"https://www.moneylaunderingnews.com/2025/10/fincen-bars-huione-group-from-financial-system/","name":"FinCEN Bars Huione Group from Financial System — Money Laundering Watch","type":"news_article","credibility":2},{"url":"https://www.justice.gov/opa/pr/justice-department-seizes-backend-infrastructure-used-huione-group-money-laundering-services","name":"Justice Department Seizes Backend Infrastructure Used by the Huione Group for Money Laundering Services","type":"regulatory","credibility":1},{"url":"https://home.treasury.gov/news/press-releases/sb0278","name":"U.S. and U.K. Take Largest Action Ever Targeting Cybercriminal Networks in Southeast Asia — U.S. Treasury","type":"regulatory","credibility":1},{"url":"https://securityboulevard.com/2025/05/treasury-moves-to-ban-huione-group-for-laundering-4-billion/","name":"Treasury Moves to Ban Huione Group for Laundering $4 Billion — Security Boulevard","type":"news_article","credibility":2},{"url":"https://www.usnews.com/news/top-news/articles/2025-05-02/us-moves-to-ban-cambodias-huione-over-alleged-money-laundering","name":"U.S. News — US Moves to Ban Cambodia's Huione Over Alleged Money Laundering","type":"news_article","credibility":2},{"url":"https://cambojanews.com/h-pay-emerges-from-sanctioned-huione-pay-panda-bank-links-noted/","name":"CamboJA News — H-Pay emerges from sanctioned Huione Pay","type":"news_article","credibility":3}],"severity":"critical"},{"content":"Huione Guarantee, rebranded as Haowang Guarantee in September 2024, operated as a Telegram-based peer-to-peer escrow marketplace used primarily by criminals engaged in pig-butchering scams, romance fraud, money laundering and related cyber fraud. It launched in 2021, operated predominantly in Chinese, and settled in USDT. Merchants offered money laundering, stolen personal data, scam website templates and technical infrastructure for fake investment websites, telecommunications equipment for fraud operations and, according to Elliptic, physical restraints including electric shackles and batons reportedly used against trafficked workers in Southeast Asian scam compounds.\n\nElliptic exposed Huione Guarantee in July 2024, when wallets linked to it had received at least $11 billion. Afterwards, monthly inflows reportedly rose 51% and user accounts exceeded 900,000. Reported cumulative volumes differ: Elliptic estimated at least $24-27 billion by early 2025 and more than $31 billion by the time Telegram removed the channels in May 2025 (over 25 times Silk Road and AlphaBay combined); CoinDesk cited $27 billion, and a combined Haowang/Xinbi figure of about $35 billion; Chainalysis found $70 billion in total transactions across five years and more than 20% of global crypto laundering activity in 2025. In May 2025, Telegram removed channels of Haowang Guarantee and the related Xinbi Guarantee following insights from Elliptic. By May 25, 2025, Huione Group acquired a new Telegram identifier and resumed operating under modified branding (still using the 'hw' initials and HaoWang bot name), with volume reportedly increasing after the FinCEN designation.\n\nPig-butchering scams (sha zhu pan) are long-con frauds in which victims are cultivated via social media or dating apps and gradually persuaded to invest in fraudulent crypto platforms.","heading":"Huione Guarantee / Haowang Guarantee: Criminal Marketplace Operations","sources":[{"url":"https://www.elliptic.co/blog/huione-largest-ever-illicit-online-marketplace-stablecoin","name":"Huione: the company behind the largest ever illicit online marketplace has launched a stablecoin — Elliptic","type":"research","credibility":2},{"url":"https://www.elliptic.co/blog/cyber-scam-marketplace","name":"Elliptic — Huione Guarantee: The multi-billion dollar marketplace used by online scammers","type":"research","credibility":2},{"url":"https://www.coindesk.com/policy/2024/07/10/cambodias-huione-guarantee-enables-global-scams-worth-11-billion-report","name":"CoinDesk — Wallets Linked to Global Scams on Cambodia's Huione Guarantee Collect $11 Billion","type":"news_article","credibility":2},{"url":"https://www.coindesk.com/business/2025/05/15/telegram-shuts-down-largest-illicit-online-marketplace-after-elliptics-insights","name":"Telegram Shuts Down $27B Illicit Marketplace, Haowang Guarantee, After Elliptic's Insights — CoinDesk","type":"news_article","credibility":2},{"url":"https://www.cryptotimes.io/2026/06/25/chainalysis-details-doj-takedown-of-huiones-crypto-crime-hub/","name":"CryptoTimes — Chainalysis Details DOJ Takedown of Huione's Crypto Crime Hub","type":"news_article","credibility":2},{"url":"https://www.elliptic.co/blog/elliptic-data-telegram-market-takedown","name":"Elliptic — Elliptic Data Leads to the Shutdown of the Two Largest Online Criminal Marketplaces of All Time","type":"research","credibility":2},{"url":"https://www.chainalysis.com/blog/huione-guarantee-still-active-despite-shutdown/","name":"Huione Carries On: Chinese-Language Platform's Persistence Reveals the Complexity of On-chain Financial Crime Disruption — Chainalysis","type":"research","credibility":2}],"severity":"critical"},{"content":"U.S. regulators identified Huione Group as a conduit for laundering proceeds of cyber heists attributed to North Korean state-sponsored actors. FinCEN's Section 311 findings cited approximately $37 million ($37.6 million in one account) linked to DPRK cyber operations between August 2021 and January 2025, and FinCEN's May 2025 notice identified Huione as a conduit for proceeds of heists by the Lazarus Group, which OFAC has sanctioned. Between June 2023 and February 2024, Huione Pay received over $150,000 directly from a wallet attributed to Lazarus. Elliptic separately traced proceeds of the July 2024 WazirX hack ($235 million stolen from the Indian exchange and attributed to DPRK-linked actors) through addresses linked to both Huione Guarantee and Xinbi Guarantee. Treasury noted that Lazarus proceeds funneled through Huione supported North Korea's sanctions-violating ballistic missile program. The group's infrastructure was assessed as one of the primary off-ramps for North Korean-linked actors, a key factor in applying the rarely used Section 311 designation.","heading":"North Korea (DPRK) Laundering Links","sources":[{"url":"https://securityboulevard.com/2025/05/treasury-moves-to-ban-huione-group-for-laundering-4-billion/","name":"Treasury Moves to Ban Huione Group for Laundering $4 Billion — Security Boulevard","type":"news_article","credibility":2},{"url":"https://home.treasury.gov/news/press-releases/sb0278","name":"U.S. and U.K. Take Largest Action Ever Targeting Cybercriminal Networks in Southeast Asia — U.S. Treasury","type":"regulatory","credibility":1},{"url":"https://www.dlnews.com/articles/regulation/us-cuts-off-huione-4bn-crypto-launder-north-korea-stablecoin/","name":"US Cuts Off Huione Over $4bn Crypto Laundering, North Korea Ties, and 'Unfreezable' Stablecoin — DL News","type":"news_article","credibility":2},{"url":"https://www.elliptic.co/blog/235-million-lost-by-wazirx-in-north-korea-linked-breach","name":"Elliptic — $235 million lost by WazirX in North Korea-linked breach","type":"research","credibility":3},{"url":"https://www.trmlabs.com/resources/blog/treasury-moves-against-huione-group-in-landmark-action-targeting-global-cybercrime-infrastructure","name":"TRM Labs — Treasury Moves Against Huione Group in Landmark Action","type":"research","credibility":2},{"url":"https://dig.watch/updates/north-korean-hackers-funneled-stolen-crypto-to-asian-payment-firm","name":"Dig.watch — North Korean hackers funneled stolen crypto to Asian payment firm","type":"news_article","credibility":3}],"severity":"critical"},{"content":"Huione Group is a Cambodian conglomerate headquartered in Phnom Penh with interests spanning financial services, insurance, tourism and real estate. Its principal entities include Huione Pay PLC (registered in Cambodia and holding a banking/payment services licence from the National Bank of Cambodia), Huione Crypto (a virtual asset service provider) and Haowang Guarantee. One account describes the group as a subsidiary of Prince Group, controlled by Chinese-Cambodian tycoon Chen Zhi, and calls Chen Zhi the controlling figure behind it; the other describes the Prince Group TCO as separately sanctioned in the same October 2025 action. Elliptic identified addresses associated with Huione entities as having received over $98 billion in cryptoassets as of May 2025.\n\nHun To, a cousin of Prime Minister Hun Manet and nephew of former Prime Minister Hun Sen, held a 30% stake in Huione Pay, confirmed by company statutes and Ministry of Commerce records from 2020, and chaired the board of Huione Life Insurance. Former chairman Li Xiong held 62% of Huione Pay. Hun To has stated he had no operational involvement, denying that he paid for his share, attended shareholder meetings, appointed representatives, received profits or dividends, voted, or obtained information about operations. These ties have been cited as a factor enabling the group's operations to persist, and Thai police separately pursued legal action against a Hun Sen-linked company over alleged call-centre gang ties.","heading":"Ownership Structure and Political Connections","sources":[{"url":"https://protos.com/cambodian-pms-cousin-owned-30-of-scam-linked-huione-pay/","name":"Cambodian PM's Cousin Owned 30% of Scam-Linked Huione Pay — Protos","type":"news_article","credibility":2},{"url":"https://cambodianess.com/article/hun-to-admits-30-share-in-huione-but-denies-control-power","name":"Hun To Admits 30% Share in Huione but Denies Control Power — Cambodianess","type":"news_article","credibility":2},{"url":"https://www.ucanews.com/news/scam-linked-payments-system-tied-directly-to-cambodias-ruling-family/113171","name":"Scam-Linked Payments System Tied Directly to Cambodia's Ruling Family — UCA News","type":"news_article","credibility":2},{"url":"https://www.elliptic.co/blog/behind-the-fbi-case-against-huione","name":"Behind the FBI Case Against Huione: the $134 Billion Marketplace and Money Laundering Operation — Elliptic","type":"research","credibility":2},{"url":"https://www.dlnews.com/articles/regulation/cambodia-firm-linked-to-ruling-family-tied-to-crypto-scams/","name":"DL News — A firm linked to Cambodia's ruling family is running an $11b crypto scam operation (as cited)","type":"news_article","credibility":2},{"url":"https://www.nationthailand.com/news/politics/40051321","name":"Nation Thailand — Thai police action against Hun Sen-linked company","type":"news_article","credibility":3},{"url":"https://www.coindesk.com/business/2025/05/02/cambodian-huione-group-received-usd98b-in-crypto-leading-to-u-s-crackdown-elliptic","name":"CoinDesk — Cambodian Huione Group Received $98B in Crypto Leading to U.S. Crackdown: Elliptic","type":"news_article","credibility":2},{"url":"https://en.wikipedia.org/wiki/Huione_Group","name":"Wikipedia — Huione Group","type":"other","credibility":3}],"severity":"high"},{"content":"In July 2024 Tether froze Huione Pay's USDT accounts. In August 2024 Huione Group launched ChatMe, a messaging app in the Apple and Google app stores that replicated Telegram's group chat and bot features and integrated with Huione's own blockchain. In September 2024 it launched USDH, a stablecoin pegged 1:1 to the U.S. dollar and marketed as 'unfreezable' and 'not restricted by traditional regulatory agencies'. USDH was issued on Ethereum, BNB Smart Chain, Tron and Huione's proprietary Huione Chain (also marketed as Xone chain). The group also launched Huione Crypto, an exchange trading USDH against Bitcoin, Ether, TRX, SOL and DOGE, plus a decentralized exchange and wallet app. Elliptic assessed the buildout as a deliberate strategy to insulate the criminal marketplace ecosystem from platform-level deplatforming of the kind that led Telegram to remove Huione's channels in May 2025.","heading":"USDH Stablecoin and Independent Infrastructure Buildout","sources":[{"url":"https://www.elliptic.co/blog/huione-largest-ever-illicit-online-marketplace-stablecoin","name":"Huione: the company behind the largest ever illicit online marketplace has launched a stablecoin — Elliptic","type":"research","credibility":2},{"url":"https://cryptoslate.com/shadowy-marketplace-huione-launches-usdh-stablecoin-to-evade-scrutiny/","name":"Shadowy Marketplace Huione Launches USDH Stablecoin to Evade Scrutiny — CryptoSlate","type":"news_article","credibility":2},{"url":"https://www.theblock.co/post/334507/huione-alleged-operators-of-largest-illicit-online-marketplace-launches-censorship-resistant-stablecoin-elliptic","name":"Huione, Alleged Operators of 'Largest Illicit Online Marketplace,' Launches Censorship-Resistant Stablecoin — The Block","type":"news_article","credibility":2}],"severity":"high"},{"content":"The DOJ's seizure announcement identified Huione Guarantee's Telegram channels as containing listings for the procurement of individuals for human trafficking schemes, as well as stolen credit card and identity information, malware-enabled theft proceeds and laundering services. Elliptic's research found vendors offering electric shackles and batons, which investigators assessed were used against workers held in Southeast Asian scam compounds, where trafficked individuals are allegedly forced to run online fraud under threat of violence. One vendor claimed connections to the Golden Fortune compound. The October 2025 joint U.S.-UK action that included the Huione Section 311 designation also sanctioned the Prince Group Transnational Criminal Organization, led by Cambodian national Chen Zhi, which operated at least ten scam compounds in Cambodia and engaged in human trafficking and forced labor.","heading":"Human Trafficking and Scam Compound Facilitation","sources":[{"url":"https://www.justice.gov/opa/pr/justice-department-seizes-backend-infrastructure-used-huione-group-money-laundering-services","name":"Justice Department Seizes Backend Infrastructure Used by the Huione Group for Money Laundering Services","type":"regulatory","credibility":1},{"url":"https://www.elliptic.co/blog/behind-the-fbi-case-against-huione","name":"Behind the FBI Case Against Huione: the $134 Billion Marketplace and Money Laundering Operation — Elliptic","type":"research","credibility":2},{"url":"https://home.treasury.gov/news/press-releases/sb0278","name":"U.S. and U.K. Take Largest Action Ever Targeting Cybercriminal Networks in Southeast Asia — U.S. Treasury","type":"regulatory","credibility":1}],"severity":"critical"},{"content":"The National Bank of Cambodia revoked Huione Pay PLC's payment services licence, citing compliance violations and regulatory findings of alleged facilitation of crypto off-ramping for illicit purposes, money laundering and technical support for fraudulent investment websites. One account dates the revocation to September 25, 2024; the other places it in the period after the May 2025 U.S. proposal, following a bank run. Huione Pay was placed in liquidation under Cambodian Ministry of Commerce Decision No. 1081 P.N.Ch.BP on June 19, 2025, supervised by REACHS and Partners Co., Ltd. (also written Reachs & Partners), with the wind-down reported complete by June 2025. In December 2025 the remaining banking operations faced a customer bank run, with depositors queuing at locked doors and withdrawals frozen; Huione Pay was then rebranded as H-Pay. The NBC warned creditors to seek court resolution for outstanding claims.\n\nICIJ's 'Coin Laundry' investigation found that as recently as July 2025 Huione Group sent roughly $1 million in USDT per day to Binance customer accounts, tracing over $408 million from Huione to Binance customer accounts between July 2024 and July 2025. A further $226 million flowed to OKX customer accounts in the five months after OKX pleaded guilty in February 2025 to operating an unlicensed money transmitter.","heading":"Huione Pay Collapse, Bank Run and Cambodian Regulatory Response","sources":[{"url":"https://www.icij.org/investigations/coin-laundry/cambodian-payment-processor-freezes-customer-funds-before-regulators-shut-it-down/","name":"ICIJ Coin Laundry: Cambodian Payment Processor Freezes Customer Funds Before Regulators Shut It Down","type":"news_article","credibility":1},{"url":"https://www.icij.org/investigations/coin-laundry/how-icij-traced-hundreds-of-millions-from-huione-group-to-major-crypto-exchanges/","name":"ICIJ Coin Laundry: How ICIJ Traced Hundreds of Millions from Huione Group to Major Crypto Exchanges","type":"news_article","credibility":1},{"url":"https://www.khmertimeskh.com/501800630/nbc-revokes-huione-pay-plcs-license-issues-warning-on-cryptocurrency-activities/","name":"NBC Revokes Huione Pay Plc's License, Issues Warning on Cryptocurrency Activities — Khmer Times","type":"news_article","credibility":2},{"url":"https://www.coindesk.com/policy/2025/12/02/sanctioned-cambodian-bank-huione-halts-business-after-mass-run-on-accounts-report","name":"Sanctioned Cambodian Lender Huione, Linked to Illicit Crypto, Faces Bank Run — CoinDesk","type":"news_article","credibility":2},{"url":"https://www.business-humanrights.org/en/latest-news/cambodia-huione-pays-banking-license-withdrawn-following-allegations-of-money-laundering-and-illicit-activities-including-facilitating-scams-incl-co-response/","name":"Business & Human Rights Resource Centre — Cambodia: Huione Pay's banking license withdrawn","type":"news_article","credibility":3},{"url":"https://cambojanews.com/h-pay-emerges-from-sanctioned-huione-pay-panda-bank-links-noted/","name":"CamboJA News — H-Pay emerges from sanctioned Huione Pay","type":"news_article","credibility":3}],"severity":"critical"},{"content":"Chen Zhi, chairman of Prince Group, was arrested in Cambodia on January 7, 2026 and extradited to China to face charges of transnational crimes including operating online scam centers and crypto investment fraud; the U.S. Department of Justice had separately indicted him in 2025 over cyber scam compounds in Cambodia. Li Xiong, a 41-year-old China-born national and alleged operational leader of Huione Group's laundering network, was extradited from Cambodia to China on April 1, 2026 to face charges including large-scale fraud, money laundering, operating illegal casinos and concealing criminal proceeds, after Cambodia revoked his citizenship. OCCRP and Recorded Future News covered both extraditions. These are allegations; the sources report charges, not convictions.","heading":"Arrests and Extraditions","sources":[{"url":"https://www.occrp.org/en/news/chairman-of-alleged-criminal-conglomerate-arrested-in-cambodia-and-extradited-to-china","name":"OCCRP — Cambodia Extradites Chair of Alleged 'Criminal' Conglomerate to China","type":"news_article","credibility":1},{"url":"https://therecord.media/cambodia-extradites-alleged-cyber-scam-linchpin-to-china","name":"Recorded Future / The Record — Cambodia extradites alleged cyber scam linchpin to China","type":"news_article","credibility":2},{"url":"https://cryptonews.com/news/huione-money-laundering-boss-extradited-china/","name":"Cryptonews — Huione money laundering boss extradited to China","type":"news_article","credibility":3},{"url":"https://www.coinspeaker.com/huione-money-laundering-boss-extradited-china/amp/","name":"Coinspeaker — Huione money laundering boss extradited to China","type":"news_article","credibility":3},{"url":"https://www.elliptic.co/blog/behind-the-fbi-case-against-huione","name":"Behind the FBI Case Against Huione: the $134 Billion Marketplace and Money Laundering Operation — Elliptic","type":"research","credibility":2}],"severity":"high"},{"content":"On October 14-15, 2025, the United States and United Kingdom announced what both governments described as the largest coordinated action against cybercriminal networks in Southeast Asia. OFAC sanctioned 146 targets within the Prince Group TCO, and the UK's FCDO sanctioned Prince Holding Group and related individuals in a complement to FinCEN's final rule. TRM Labs reported that the operation also produced a record Bitcoin seizure of approximately $14-15 billion linked to Cambodian pig-butchering operations. The action formed part of wider coordination against Southeast Asian scam compounds, including actions against the Karen National Army in Burma.","heading":"UK Sanctions and Coordinated International Response","sources":[{"url":"https://home.treasury.gov/news/press-releases/sb0278","name":"U.S. and U.K. Take Largest Action Ever Targeting Cybercriminal Networks in Southeast Asia — U.S. Treasury","type":"regulatory","credibility":1},{"url":"https://www.occrp.org/en/news/us-uk-launch-largest-ever-crackdown-on-southeast-asian-cybercrime-networks","name":"OCCRP — US, UK launch largest-ever crackdown on Southeast Asian cybercrime networks","type":"news_article","credibility":3},{"url":"https://www.trmlabs.com/resources/blog/historic-u-s--u-k-operation-targets-southeast-asias-scam-compounds-with-record-15-billion-bitcoin-seizure","name":"TRM Labs — Historic U.S.-U.K. operation targets Southeast Asia's scam compounds with record $15 billion Bitcoin seizure","type":"research","credibility":3},{"url":"https://www.coindesk.com/policy/2025/10/14/u-s-targets-cambodian-pig-butchering-takes-usd14b-in-bitcoin-as-biggest-ever-seizure","name":"CoinDesk — U.S. targets Cambodian pig-butchering, takes $14B in bitcoin as biggest-ever seizure","type":"news_article","credibility":3}],"severity":"medium"},{"content":"Despite the May 2025 Telegram removal and later law enforcement actions, the ecosystem showed resilience. Chainalysis reported that activity linked to the platform did not decline, and in some metrics increased. Merchants migrated to successor guarantee platforms, including Tudou Guarantee, which processed over $12 billion before collapsing in January 2026. As of mid-2026, over 30 competitor guarantee marketplaces remained active, with Xinbi Guarantee having received over $24 billion. TRM Labs found that successor Telegram channels and bots linked to Huione and Xinbi continued operating despite bans. Chainalysis assessed the DOJ seizure and FinCEN designation as 'a major milestone, but not the end of guarantee-based crypto crime.'","heading":"Ecosystem Persistence and Successor Marketplaces","sources":[{"url":"https://www.chainalysis.com/blog/huione-guarantee-still-active-despite-shutdown/","name":"Huione Carries On: Chinese-Language Platform's Persistence Reveals the Complexity of On-chain Financial Crime Disruption — Chainalysis","type":"research","credibility":2},{"url":"https://www.coindesk.com/business/2025/07/30/illicit-crypto-trade-quickly-rebounds-despite-telegram-s-shutdown-of-usd35b-huione-marketplace","name":"CoinDesk — Telegram's $35B Crack Down on Crypto Scams Fails to Quell Fraud as More Platforms Pop Up","type":"news_article","credibility":2},{"url":"https://www.trmlabs.com/resources/blog/how-telegrams-ban-on-huione-and-xinbi-has-reshaped-the-guarantee-services-landscape","name":"How Telegram's Ban on Huione and Xinbi Has Reshaped the Guarantee Services Landscape — TRM Labs","type":"research","credibility":2},{"url":"https://www.chainalysis.com/blog/huione-group-shutdown-future-of-crypto-scam-infrastructure/","name":"Huione Group Shutdown and the Future of Crypto Scam Infrastructure — Chainalysis","type":"research","credibility":2}],"severity":"high"}],"timeline":[{"date":"2021","event":"Huione Guarantee marketplace launches on Telegram as a peer-to-peer escrow platform primarily for criminal services settled in USDT.","source":"Behind the FBI Case Against Huione: the $134 Billion Marketplace and Money Laundering Operation — Elliptic","source_url":"https://www.elliptic.co/blog/behind-the-fbi-case-against-huione"},{"date":"2021-08","event":"FinCEN later establishes that Huione Group began laundering at least $4 billion in illicit proceeds from around this period (August 2021 to January 2025).","source":"FinCEN — Finds Cambodia-Based Huione Group to be of Primary Money Laundering Concern","source_url":"https://www.fincen.gov/news/news-releases/fincen-finds-cambodia-based-huione-group-be-primary-money-laundering-concern"},{"date":"2024-07","event":"Elliptic publicly exposes Huione Guarantee (research dated July 10, 2024), linking wallets to at least $11 billion in scam-related transactions; monthly inflows subsequently rise 51%. Tether freezes Huione Pay's USDT accounts.","source":"CoinDesk — Wallets Linked to Global Scams on Cambodia's Huione Guarantee Collect $11 Billion","source_url":"https://www.coindesk.com/policy/2024/07/10/cambodias-huione-guarantee-enables-global-scams-worth-11-billion-report"},{"date":"2024-08","event":"Huione Group launches ChatMe, a Telegram-like messaging app integrated with its own blockchain, in the Apple and Google app stores.","source":"Huione: the company behind the largest ever illicit online marketplace has launched a stablecoin — Elliptic","source_url":"https://www.elliptic.co/blog/huione-largest-ever-illicit-online-marketplace-stablecoin"},{"date":"2024-09","event":"Huione Group launches the USDH stablecoin, marketed as 'unfreezable', alongside Huione Chain and Huione Crypto; Huione Guarantee is rebranded Haowang Guarantee. Cambodia's National Bank is reported to have revoked Huione Pay PLC's licence on September 25, 2024.","source":"Huione: the company behind the largest ever illicit online marketplace has launched a stablecoin — Elliptic","source_url":"https://www.elliptic.co/blog/huione-largest-ever-illicit-online-marketplace-stablecoin"},{"date":"2025-05","event":"FinCEN issues a Section 311 Notice of Proposed Rulemaking against Huione Group (May 1-2, 2025); Elliptic estimates group inflows at $98 billion. Telegram removes Haowang Guarantee and Xinbi Guarantee channels (May 13, 2025); on May 25 Huione acquires a new Telegram identifier and resumes operations.","source":"U.S. News — US Moves to Ban Cambodia's Huione Over Alleged Money Laundering","source_url":"https://www.usnews.com/news/top-news/articles/2025-05-02/us-moves-to-ban-cambodias-huione-over-alleged-money-laundering"},{"date":"2025-06","event":"Cambodia's Ministry of Commerce orders Huione Pay into liquidation under Decision No. 1081 P.N.Ch.BP (June 19, 2025), supervised by REACHS and Partners Co., Ltd.","source":"ICIJ Coin Laundry: Cambodian Payment Processor Freezes Customer Funds Before Regulators Shut It Down","source_url":"https://www.icij.org/investigations/coin-laundry/cambodian-payment-processor-freezes-customer-funds-before-regulators-shut-it-down/"},{"date":"2025-10","event":"FinCEN issues its final Section 311 rule severing Huione Group from the U.S. financial system (October 14-15, 2025, published in the Federal Register October 16), as the U.S. and UK announce coordinated action; OFAC sanctions 146 targets in the Prince Group TCO and the UK sanctions Prince Holding Group.","source":"U.S. and U.K. Take Largest Action Ever Targeting Cybercriminal Networks in Southeast Asia — U.S. Treasury","source_url":"https://home.treasury.gov/news/press-releases/sb0278"},{"date":"2025-12","event":"Reports (December 2, 2025) of a bank run on Huione's remaining banking operations, with withdrawals frozen; the entity later rebrands as H-Pay.","source":"Sanctioned Cambodian Lender Huione, Linked to Illicit Crypto, Faces Bank Run — CoinDesk","source_url":"https://www.coindesk.com/policy/2025/12/02/sanctioned-cambodian-bank-huione-halts-business-after-mass-run-on-accounts-report"},{"date":"2026","event":"Tudou Guarantee, a successor marketplace to which Huione merchants migrated, collapses in January 2026 after processing over $12 billion.","source":"Behind the FBI Case Against Huione: the $134 Billion Marketplace and Money Laundering Operation — Elliptic","source_url":"https://www.elliptic.co/blog/behind-the-fbi-case-against-huione"},{"date":"2026-01","event":"Prince Group chairman Chen Zhi is arrested in Cambodia (January 7, 2026) and extradited to China; he had been separately indicted by a U.S. court.","source":"OCCRP — Cambodia Extradites Chair of Alleged 'Criminal' Conglomerate to China","source_url":"https://www.occrp.org/en/news/chairman-of-alleged-criminal-conglomerate-arrested-in-cambodia-and-extradited-to-china"},{"date":"2026-04","event":"Former Huione chairman and alleged operational leader Li Xiong is extradited from Cambodia to China (April 1, 2026); Cambodia revoked his citizenship.","source":"Behind the FBI Case Against Huione: the $134 Billion Marketplace and Money Laundering Operation — Elliptic","source_url":"https://www.elliptic.co/blog/behind-the-fbi-case-against-huione"},{"date":"2026-06","event":"DOJ announces (June 23, 2026) seizure of the cloud computing account serving as backbone for Huione Group subsidiaries under Operation Riptide; FinCEN simultaneously issues an NPRM to extend the Section 311 ban to successor H-Pay Service PLC.","source":"Justice Department Seizes Backend Infrastructure Used by the Huione Group for Money Laundering Services","source_url":"https://www.justice.gov/opa/pr/justice-department-seizes-backend-infrastructure-used-huione-group-money-laundering-services"}],"sources_used":[{"url":"https://www.justice.gov/opa/pr/justice-department-seizes-backend-infrastructure-used-huione-group-money-laundering-services","name":"Justice Department Seizes Backend Infrastructure Used by the Huione Group for Money Laundering Services","type":"regulatory","archive_url":"http://web.archive.org/web/20260713154959/https://www.justice.gov/opa/pr/justice-department-seizes-backend-infrastructure-used-huione-group-money-laundering-services","credibility":1,"archive_timestamp":"2026-07-13T15:49:59+00:00"},{"url":"https://www.federalregister.gov/documents/2025/10/16/2025-19571/imposition-of-special-measure-regarding-huione-group-as-a-foreign-financial-institution-of-primary","name":"Federal Register: Imposition of Special Measure Regarding Huione Group as a Foreign Financial Institution of Primary Money Laundering Concern","type":"regulatory","archive_url":"http://web.archive.org/web/20260703002229/https://www.federalregister.gov/documents/2025/10/16/2025-19571/imposition-of-special-measure-regarding-huione-group-as-a-foreign-financial-institution-of-primary","credibility":1,"archive_timestamp":"2026-07-03T00:22:29+00:00"},{"url":"https://home.treasury.gov/news/press-releases/sb0278","name":"U.S. and U.K. Take Largest Action Ever Targeting Cybercriminal Networks in Southeast Asia — U.S. Treasury","type":"regulatory","archive_url":"http://web.archive.org/web/20260706121646/https://home.treasury.gov/news/press-releases/sb0278","credibility":1,"archive_timestamp":"2026-07-06T12:16:46+00:00"},{"url":"https://www.icij.org/investigations/coin-laundry/cambodian-payment-processor-freezes-customer-funds-before-regulators-shut-it-down/","name":"ICIJ Coin Laundry: Cambodian Payment Processor Freezes Customer Funds Before Regulators Shut It Down","type":"news_article","archive_url":"http://web.archive.org/web/20260625014944/https://www.icij.org/investigations/coin-laundry/cambodian-payment-processor-freezes-customer-funds-before-regulators-shut-it-down/","credibility":1,"archive_timestamp":"2026-06-25T01:49:44+00:00"},{"url":"https://www.icij.org/investigations/coin-laundry/how-icij-traced-hundreds-of-millions-from-huione-group-to-major-crypto-exchanges/","name":"ICIJ Coin Laundry: How ICIJ Traced Hundreds of Millions from Huione Group to Major Crypto Exchanges","type":"news_article","archive_url":"http://web.archive.org/web/20260719174057/https://www.icij.org/investigations/coin-laundry/how-icij-traced-hundreds-of-millions-from-huione-group-to-major-crypto-exchanges/","credibility":1,"archive_timestamp":"2026-07-19T17:40:57+00:00"},{"url":"https://www.elliptic.co/blog/behind-the-fbi-case-against-huione","name":"Behind the FBI Case Against Huione: the $134 Billion Marketplace and Money Laundering Operation — Elliptic","type":"research","archive_url":"http://web.archive.org/web/20260625170759/https://www.elliptic.co/blog/behind-the-fbi-case-against-huione","credibility":2,"archive_timestamp":"2026-06-25T17:07:59+00:00"},{"url":"https://www.elliptic.co/blog/huione-largest-ever-illicit-online-marketplace-stablecoin","name":"Huione: the company behind the largest ever illicit online marketplace has launched a stablecoin — Elliptic","type":"research","archive_url":"http://web.archive.org/web/20260616071258/https://www.elliptic.co/blog/huione-largest-ever-illicit-online-marketplace-stablecoin","credibility":2,"archive_timestamp":"2026-06-16T07:12:58+00:00"},{"url":"https://www.elliptic.co/blog/the-u.s.-treasury-finds-huione-group-to-be-of-primary-money-laundering-concern","name":"The U.S. Treasury Finds Huione Group to be of Primary Money Laundering Concern Following Elliptic Research — Elliptic","type":"research","archive_url":"http://web.archive.org/web/20260519164439/https://www.elliptic.co/blog/the-u.s.-treasury-finds-huione-group-to-be-of-primary-money-laundering-concern","credibility":2,"archive_timestamp":"2026-05-19T16:44:39+00:00"},{"url":"https://www.elliptic.co/media-center/elliptic-intelligence-used-by-the-fbi-in-action-against-huione-group","name":"Elliptic Intelligence Used by the FBI in Action Against Huione — Elliptic Media Center","type":"research","archive_url":"http://web.archive.org/web/20260714071122/https://www.elliptic.co/media-center/elliptic-intelligence-used-by-the-fbi-in-action-against-huione-group","credibility":2,"archive_timestamp":"2026-07-14T07:11:22+00:00"},{"url":"https://decrypt.co/371950/doj-seizes-huione-infrastructure-linked-to-billions-in-crypto-laundering","name":"DOJ Seizes Huione Infrastructure Linked to Billions in Crypto Laundering — Decrypt","type":"news_article","archive_url":"http://web.archive.org/web/20260714212426/https://decrypt.co/371950/doj-seizes-huione-infrastructure-linked-to-billions-in-crypto-laundering","credibility":2,"archive_timestamp":"2026-07-14T21:24:26+00:00"},{"url":"https://www.cryptotimes.io/2026/06/25/chainalysis-details-doj-takedown-of-huiones-crypto-crime-hub/","name":"CryptoTimes — Chainalysis Details DOJ Takedown of Huione's Crypto Crime Hub","type":"news_article","archive_url":"https://web.archive.org/web/20260728042012/https://www.cryptotimes.io/2026/06/25/chainalysis-details-doj-takedown-of-huiones-crypto-crime-hub/","credibility":2,"archive_timestamp":"2026-07-28T04:20:12+00:00"},{"url":"https://www.chainalysis.com/blog/huione-group-shutdown-future-of-crypto-scam-infrastructure/","name":"Huione Group Shutdown and the Future of Crypto Scam Infrastructure — Chainalysis","type":"research","archive_url":"http://web.archive.org/web/20260326122024/https://www.chainalysis.com/blog/huione-group-shutdown-future-of-crypto-scam-infrastructure/","credibility":2,"archive_timestamp":"2026-03-26T12:20:24+00:00"},{"url":"https://www.chainalysis.com/blog/huione-guarantee-still-active-despite-shutdown/","name":"Huione Carries On: Chinese-Language Platform's Persistence Reveals the Complexity of On-chain Financial Crime Disruption — Chainalysis","type":"research","archive_url":"http://web.archive.org/web/20260720010029/https://www.chainalysis.com/blog/huione-guarantee-still-active-despite-shutdown/","credibility":2,"archive_timestamp":"2026-07-20T01:00:29+00:00"},{"url":"https://www.coindesk.com/business/2025/05/15/telegram-shuts-down-largest-illicit-online-marketplace-after-elliptics-insights","name":"Telegram Shuts Down $27B Illicit Marketplace, Haowang Guarantee, After Elliptic's Insights — CoinDesk","type":"news_article","archive_url":"http://web.archive.org/web/20251121081936/https://www.coindesk.com/business/2025/05/15/telegram-shuts-down-largest-illicit-online-marketplace-after-elliptics-insights","credibility":2,"archive_timestamp":"2025-11-21T08:19:36+00:00"},{"url":"https://www.coindesk.com/business/2025/07/30/illicit-crypto-trade-quickly-rebounds-despite-telegram-s-shutdown-of-usd35b-huione-marketplace","name":"CoinDesk — Telegram's $35B Crack Down on Crypto Scams Fails to Quell Fraud as More Platforms Pop Up","type":"news_article","archive_url":"http://web.archive.org/web/20251024115528/https://www.coindesk.com/business/2025/07/30/illicit-crypto-trade-quickly-rebounds-despite-telegram-s-shutdown-of-usd35b-huione-marketplace","credibility":2,"archive_timestamp":"2025-10-24T11:55:28+00:00"},{"url":"https://protos.com/cambodian-pms-cousin-owned-30-of-scam-linked-huione-pay/","name":"Cambodian PM's Cousin Owned 30% of Scam-Linked Huione Pay — Protos","type":"news_article","archive_url":"http://web.archive.org/web/20260515162152/https://protos.com/cambodian-pms-cousin-owned-30-of-scam-linked-huione-pay/","credibility":2,"archive_timestamp":"2026-05-15T16:21:52+00:00"},{"url":"https://cambodianess.com/article/hun-to-admits-30-share-in-huione-but-denies-control-power","name":"Hun To Admits 30% Share in Huione but Denies Control Power — Cambodianess","type":"news_article","archive_url":"https://web.archive.org/web/20260727050533/https://cambodianess.com/article/hun-to-admits-30-share-in-huione-but-denies-control-power","credibility":2,"archive_timestamp":"2026-07-27T05:05:33+00:00"},{"url":"https://www.ucanews.com/news/scam-linked-payments-system-tied-directly-to-cambodias-ruling-family/113171","name":"Scam-Linked Payments System Tied Directly to Cambodia's Ruling Family — UCA News","type":"news_article","archive_url":"http://web.archive.org/web/20260508225430/https://www.ucanews.com/news/scam-linked-payments-system-tied-directly-to-cambodias-ruling-family/113171","credibility":2,"archive_timestamp":"2026-05-08T22:54:30+00:00"},{"url":"https://www.moneylaunderingnews.com/2025/10/fincen-bars-huione-group-from-financial-system/","name":"FinCEN Bars Huione Group from Financial System — Money Laundering Watch","type":"news_article","archive_url":"http://web.archive.org/web/20260521085746/https://www.moneylaunderingnews.com/2025/10/fincen-bars-huione-group-from-financial-system/","credibility":2,"archive_timestamp":"2026-05-21T08:57:46+00:00"},{"url":"https://www.moneylaunderingnews.com/2025/05/navigating-fincens-actions-on-huione-group-strengthening-defenses-against-money-laundering/","name":"Navigating FinCEN's Actions on Huione Group — Money Laundering Watch","type":"news_article","archive_url":"http://web.archive.org/web/20260311224018/https://www.moneylaunderingnews.com/2025/05/navigating-fincens-actions-on-huione-group-strengthening-defenses-against-money-laundering/","credibility":2,"archive_timestamp":"2026-03-11T22:40:18+00:00"},{"url":"https://securityboulevard.com/2025/05/treasury-moves-to-ban-huione-group-for-laundering-4-billion/","name":"Treasury Moves to Ban Huione Group for Laundering $4 Billion — Security Boulevard","type":"news_article","archive_url":"http://web.archive.org/web/20250503105321/https://securityboulevard.com/2025/05/treasury-moves-to-ban-huione-group-for-laundering-4-billion/","credibility":2,"archive_timestamp":"2025-05-03T10:53:21+00:00"},{"url":"https://www.dlnews.com/articles/regulation/us-cuts-off-huione-4bn-crypto-launder-north-korea-stablecoin/","name":"US Cuts Off Huione Over $4bn Crypto Laundering, North Korea Ties, and 'Unfreezable' Stablecoin — DL News","type":"news_article","archive_url":"http://web.archive.org/web/20260702103946/https://www.dlnews.com/articles/regulation/us-cuts-off-huione-4bn-crypto-launder-north-korea-stablecoin/","credibility":2,"archive_timestamp":"2026-07-02T10:39:46+00:00"},{"url":"https://cryptoslate.com/shadowy-marketplace-huione-launches-usdh-stablecoin-to-evade-scrutiny/","name":"Shadowy Marketplace Huione Launches USDH Stablecoin to Evade Scrutiny — CryptoSlate","type":"news_article","archive_url":"http://web.archive.org/web/20260725202736/https://cryptoslate.com/shadowy-marketplace-huione-launches-usdh-stablecoin-to-evade-scrutiny/","credibility":2,"archive_timestamp":"2026-07-25T20:27:36+00:00"},{"url":"https://www.theblock.co/post/334507/huione-alleged-operators-of-largest-illicit-online-marketplace-launches-censorship-resistant-stablecoin-elliptic","name":"Huione, Alleged Operators of 'Largest Illicit Online Marketplace,' Launches Censorship-Resistant Stablecoin — The Block","type":"news_article","archive_url":"http://web.archive.org/web/20260301040224/https://www.theblock.co/post/334507/huione-alleged-operators-of-largest-illicit-online-marketplace-launches-censorship-resistant-stablecoin-elliptic","credibility":2,"archive_timestamp":"2026-03-01T04:02:24+00:00"},{"url":"https://www.coindesk.com/policy/2025/12/02/sanctioned-cambodian-bank-huione-halts-business-after-mass-run-on-accounts-report","name":"Sanctioned Cambodian Lender Huione, Linked to Illicit Crypto, Faces Bank Run — CoinDesk","type":"news_article","archive_url":"http://web.archive.org/web/20260228124307/https://www.coindesk.com/policy/2025/12/02/sanctioned-cambodian-bank-huione-halts-business-after-mass-run-on-accounts-report","credibility":2,"archive_timestamp":"2026-02-28T12:43:07+00:00"},{"url":"https://www.khmertimeskh.com/501800630/nbc-revokes-huione-pay-plcs-license-issues-warning-on-cryptocurrency-activities/","name":"NBC Revokes Huione Pay Plc's License, Issues Warning on Cryptocurrency Activities — Khmer Times","type":"news_article","archive_url":null,"credibility":2,"archive_error":"error:no-request","archive_status":"unarchivable","archive_timestamp":null},{"url":"https://www.trmlabs.com/resources/blog/how-telegrams-ban-on-huione-and-xinbi-has-reshaped-the-guarantee-services-landscape","name":"How Telegram's Ban on Huione and Xinbi Has Reshaped the Guarantee Services Landscape — TRM Labs","type":"research","archive_url":"http://web.archive.org/web/20260216023222/https://www.trmlabs.com/resources/blog/how-telegrams-ban-on-huione-and-xinbi-has-reshaped-the-guarantee-services-landscape","credibility":2,"archive_timestamp":"2026-02-16T02:32:22+00:00"},{"url":"https://www.washingtontimes.com/news/2026/jun/23/justice-dept-seizes-huione-group-cloud-account-tied-billions-crypto/","name":"DOJ Seizes Huione Group Cloud Account Tied to Billions in Crypto Fraud — Washington Times","type":"news_article","archive_url":"http://web.archive.org/web/20260624100712/https://www.washingtontimes.com/news/2026/jun/23/justice-dept-seizes-huione-group-cloud-account-tied-billions-crypto/","credibility":2,"archive_timestamp":"2026-06-24T10:07:12+00:00"},{"url":"https://www.fincen.gov/news/news-releases/fincen-finds-cambodia-based-huione-group-be-primary-money-laundering-concern","name":"FinCEN — Finds Cambodia-Based Huione Group to be of Primary Money Laundering Concern","type":"regulatory","archive_url":"http://web.archive.org/web/20261022222923/https://www.fincen.gov/news/news-releases/fincen-finds-cambodia-based-huione-group-be-primary-money-laundering-concern","credibility":1,"archive_timestamp":"2026-10-22T22:29:23+00:00"},{"url":"https://www.fincen.gov/news/news-releases/fincen-issues-final-rule-severing-huione-group-us-financial-system","name":"FinCEN — Issues Final Rule Severing Huione Group from U.S. Financial System","type":"regulatory","archive_url":"http://web.archive.org/web/20261015060504/https://www.fincen.gov/news/news-releases/fincen-issues-final-rule-severing-huione-group-us-financial-system","credibility":1,"archive_timestamp":"2026-10-15T06:05:04+00:00"},{"url":"https://www.elliptic.co/blog/cyber-scam-marketplace","name":"Elliptic — Huione Guarantee: The multi-billion dollar marketplace used by online scammers","type":"research","archive_url":"http://web.archive.org/web/20260624131947/https://www.elliptic.co/blog/cyber-scam-marketplace","credibility":2,"archive_timestamp":"2026-06-24T13:19:47+00:00"},{"url":"https://www.coindesk.com/business/2025/05/02/cambodian-huione-group-received-usd98b-in-crypto-leading-to-u-s-crackdown-elliptic","name":"CoinDesk — Cambodian Huione Group Received $98B in Crypto Leading to U.S. Crackdown: Elliptic","type":"news_article","archive_url":"http://web.archive.org/web/20251202073648/https://www.coindesk.com/business/2025/05/02/cambodian-huione-group-received-usd98b-in-crypto-leading-to-u-s-crackdown-elliptic","credibility":2,"archive_timestamp":"2025-12-02T07:36:48+00:00"},{"url":"https://www.coindesk.com/policy/2024/07/10/cambodias-huione-guarantee-enables-global-scams-worth-11-billion-report","name":"CoinDesk — Wallets Linked to Global Scams on Cambodia's Huione Guarantee Collect $11 Billion","type":"news_article","archive_url":"http://web.archive.org/web/20260526023330/https://www.coindesk.com/policy/2024/07/10/cambodias-huione-guarantee-enables-global-scams-worth-11-billion-report","credibility":2,"archive_timestamp":"2026-05-26T02:33:30+00:00"},{"url":"https://www.dlnews.com/articles/regulation/cambodia-firm-linked-to-ruling-family-tied-to-crypto-scams/","name":"DL News — A firm linked to Cambodia's ruling family is running an $11b crypto scam operation (as cited)","type":"news_article","archive_url":"http://web.archive.org/web/20260701081410/https://www.dlnews.com/articles/regulation/cambodia-firm-linked-to-ruling-family-tied-to-crypto-scams/","credibility":2,"archive_timestamp":"2026-07-01T08:14:10+00:00"},{"url":"https://www.occrp.org/en/news/chairman-of-alleged-criminal-conglomerate-arrested-in-cambodia-and-extradited-to-china","name":"OCCRP — Cambodia Extradites Chair of Alleged 'Criminal' Conglomerate to China","type":"news_article","archive_url":"http://web.archive.org/web/20260601094318/https://www.occrp.org/en/news/chairman-of-alleged-criminal-conglomerate-arrested-in-cambodia-and-extradited-to-china","credibility":1,"archive_timestamp":"2026-06-01T09:43:18+00:00"},{"url":"https://therecord.media/cambodia-extradites-alleged-cyber-scam-linchpin-to-china","name":"Recorded Future / The Record — Cambodia extradites alleged cyber scam linchpin to China","type":"news_article","archive_url":"http://web.archive.org/web/20260624003917/https://therecord.media/cambodia-extradites-alleged-cyber-scam-linchpin-to-china","credibility":2,"archive_timestamp":"2026-06-24T00:39:17+00:00"},{"url":"https://www.trmlabs.com/resources/blog/treasury-moves-against-huione-group-in-landmark-action-targeting-global-cybercrime-infrastructure","name":"TRM Labs — Treasury Moves Against Huione Group in Landmark Action","type":"research","archive_url":"http://web.archive.org/web/20260512225040/https://www.trmlabs.com/resources/blog/treasury-moves-against-huione-group-in-landmark-action-targeting-global-cybercrime-infrastructure","credibility":2,"archive_timestamp":"2026-05-12T22:50:40+00:00"},{"url":"https://en.wikipedia.org/wiki/Huione_Group","name":"Wikipedia — Huione Group","type":"other","archive_url":"http://web.archive.org/web/20260625155514/https://en.wikipedia.org/wiki/Huione_Group","credibility":3,"archive_timestamp":"2026-06-25T15:55:14+00:00"},{"url":"https://ffnews.com/news/fbi-leverages-elliptic-intelligence-to-take-down-134-billion-huione-criminal-network","name":"FFNews — FBI Leverages Elliptic Intelligence to Take Down $134 Billion Huione Criminal Network","type":"news_article","archive_url":"https://web.archive.org/web/20261014025505/https://ffnews.com/news/fbi-leverages-elliptic-intelligence-to-take-down-134-billion-huione-criminal-network","credibility":2,"archive_timestamp":"2026-10-14T02:55:05+00:00"},{"url":"https://www.elliptic.co/blog/elliptic-data-telegram-market-takedown","name":"Elliptic — Elliptic Data Leads to the Shutdown of the Two Largest Online Criminal Marketplaces of All Time","type":"research","archive_url":"http://web.archive.org/web/20260720144000/https://www.elliptic.co/blog/elliptic-data-telegram-market-takedown","credibility":2,"archive_timestamp":"2026-07-20T14:40:00+00:00"},{"url":"https://www.usnews.com/news/top-news/articles/2025-05-02/us-moves-to-ban-cambodias-huione-over-alleged-money-laundering","name":"U.S. News — US Moves to Ban Cambodia's Huione Over Alleged Money Laundering","type":"news_article","archive_url":"https://web.archive.org/web/20261014014443/https://www.usnews.com/news/top-news/articles/2025-05-02/us-moves-to-ban-cambodias-huione-over-alleged-money-laundering","credibility":2,"archive_timestamp":"2026-10-14T01:44:43+00:00"},{"url":"https://www.nationthailand.com/news/politics/40051321","name":"Nation Thailand — Thai police action against Hun Sen-linked company","type":"news_article","archive_url":"http://web.archive.org/web/20260512094829/https://www.nationthailand.com/news/politics/40051321","credibility":3,"archive_timestamp":"2026-05-12T09:48:29+00:00"},{"url":"https://www.elliptic.co/blog/235-million-lost-by-wazirx-in-north-korea-linked-breach","name":"Elliptic — $235 million lost by WazirX in North Korea-linked breach","type":"research","archive_url":"http://web.archive.org/web/20260326175050/https://www.elliptic.co/blog/235-million-lost-by-wazirx-in-north-korea-linked-breach","credibility":3,"archive_timestamp":"2026-03-26T17:50:50+00:00"},{"url":"https://dig.watch/updates/north-korean-hackers-funneled-stolen-crypto-to-asian-payment-firm","name":"Dig.watch — North Korean hackers funneled stolen crypto to Asian payment firm","type":"news_article","archive_url":"http://web.archive.org/web/20260317132252/https://dig.watch/updates/north-korean-hackers-funneled-stolen-crypto-to-asian-payment-firm","credibility":3,"archive_timestamp":"2026-03-17T13:22:52+00:00"},{"url":"https://www.business-humanrights.org/en/latest-news/cambodia-huione-pays-banking-license-withdrawn-following-allegations-of-money-laundering-and-illicit-activities-including-facilitating-scams-incl-co-response/","name":"Business & Human Rights Resource Centre — Cambodia: Huione Pay's banking license withdrawn","type":"news_article","archive_url":"http://web.archive.org/web/20260323043100/https://www.business-humanrights.org/en/latest-news/cambodia-huione-pays-banking-license-withdrawn-following-allegations-of-money-laundering-and-illicit-activities-including-facilitating-scams-incl-co-response/","credibility":3,"archive_timestamp":"2026-03-23T04:31:00+00:00"},{"url":"https://cambojanews.com/h-pay-emerges-from-sanctioned-huione-pay-panda-bank-links-noted/","name":"CamboJA News — H-Pay emerges from sanctioned Huione Pay","type":"news_article","archive_url":"http://web.archive.org/web/20261012210459/https://cambojanews.com/h-pay-emerges-from-sanctioned-huione-pay-panda-bank-links-noted/","credibility":3,"archive_timestamp":"2026-10-12T21:04:59+00:00"},{"url":"https://cryptonews.com/news/huione-money-laundering-boss-extradited-china/","name":"Cryptonews — Huione money laundering boss extradited to China","type":"news_article","archive_url":"http://web.archive.org/web/20260403022445/https://cryptonews.com/news/huione-money-laundering-boss-extradited-china/","credibility":3,"archive_timestamp":"2026-04-03T02:24:45+00:00"},{"url":"https://www.coinspeaker.com/huione-money-laundering-boss-extradited-china/amp/","name":"Coinspeaker — Huione money laundering boss extradited to China","type":"news_article","archive_url":"http://web.archive.org/web/20260418054532/https://www.coinspeaker.com/huione-money-laundering-boss-extradited-china/amp/","credibility":3,"archive_timestamp":"2026-04-18T05:45:32+00:00"},{"url":"https://www.occrp.org/en/news/us-uk-launch-largest-ever-crackdown-on-southeast-asian-cybercrime-networks","name":"OCCRP — US, UK launch largest-ever crackdown on Southeast Asian cybercrime networks","type":"news_article","archive_url":"http://web.archive.org/web/20260624050804/https://www.occrp.org/en/news/us-uk-launch-largest-ever-crackdown-on-southeast-asian-cybercrime-networks","credibility":3,"archive_timestamp":"2026-06-24T05:08:04+00:00"},{"url":"https://www.trmlabs.com/resources/blog/historic-u-s--u-k-operation-targets-southeast-asias-scam-compounds-with-record-15-billion-bitcoin-seizure","name":"TRM Labs — Historic U.S.-U.K. operation targets Southeast Asia's scam compounds with record $15 billion Bitcoin seizure","type":"research","archive_url":"http://web.archive.org/web/20260512213800/https://www.trmlabs.com/resources/blog/historic-u-s--u-k-operation-targets-southeast-asias-scam-compounds-with-record-15-billion-bitcoin-seizure","credibility":3,"archive_timestamp":"2026-05-12T21:38:00+00:00"},{"url":"https://www.coindesk.com/policy/2025/10/14/u-s-targets-cambodian-pig-butchering-takes-usd14b-in-bitcoin-as-biggest-ever-seizure","name":"CoinDesk — U.S. targets Cambodian pig-butchering, takes $14B in bitcoin as biggest-ever seizure","type":"news_article","archive_url":"http://web.archive.org/web/20260916010625/https://www.coindesk.com/policy/2025/10/14/u-s-targets-cambodian-pig-butchering-takes-usd14b-in-bitcoin-as-biggest-ever-seizure","credibility":3,"archive_timestamp":"2026-09-16T01:06:25+00:00"}],"source_tags":[],"addresses":[],"reviewed":false,"reviewed_by":null,"model_used":"claude-code-merge-writer","created_at":"2026-06-26T12:10:08.363947+00:00","updated_at":"2026-11-06T09:15:02.864823+00:00"},"source_quality":{"total":51,"tier1":5,"tier2":22,"tier3":0,"unrated":24},"follower_count":null,"content_updated_at":"2026-11-01T03:44:07.327Z","last_fact_checked_at":"2026-10-27T06:32:33.134Z","fact_check_next_allowed_at":null,"update_next_allowed_at":null}