H-Pay Service PLC (Huione Successor Entity)
Last changed 2026-11-01 · Fact-check review — Fact-check review (verdict: revise): the reviewer checked the page's claims against its sources; the trust score did not change. Version history →
Why this score
| Every page starts at | 65 |
| The subject's own conduct | -170 |
| Sum | -105 |
- The page establishes that the subject is itself a scheme, so the score is 0.
- 2 sections set aside: the claims did not hold up in a fact-check, pending correction.
Score: 0/100 (kept between 0 and 100)
How scoring works →Page reliability: Fact-checked 2026-11-01 · 3 of 9 claims confirmed · 1 need better sources · 5 disputed
anchored·2hkPJk…29yzSummary
H-Pay Service PLC is a Cambodia-based payment company incorporated in October 2024 that U.S. regulators allege is a successor entity to Huione Pay, itself a subsidiary of the Huione Group — a conglomerate FinCEN designated as a primary money laundering concern in October 2025 for laundering at least $4 billion in illicit proceeds linked to North Korean state-sponsored cyber heists and Southeast Asian pig-butchering scam networks. On June 23–24, 2026, FinCEN proposed amending its Huione Group final rule to explicitly encompass H-Pay Service PLC and any future successors, while the DOJ simultaneously seized backend cloud infrastructure used by Huione Group subsidiaries to process billions in fraud proceeds. H-Pay is alleged to have assumed Huione Pay's branches, customer base, branding, and operational footprint specifically to circumvent the existing U.S. financial restrictions imposed on Huione Group.
Connected Entities
5 entities · 60 linked investigations- H-Pay Service PLC (Huione Successor Entity)→mentioned with→Tether(60%)
- H-Pay Service PLC (Huione Successor Entity)→mentioned with→Chen Zhi / Prince Group(75%)
- Huione Group→mentioned with→Chen Zhi / Prince Group(85%)
- Chen Zhi / Prince Group→mentioned with→Huione Group(80%)
- H-Pay Service PLC (Huione Successor Entity)→mentioned with→Huione Group(80%)
- H-Pay Service PLC (Huione Successor Entity)→mentioned with→North Korea Lazarus Group — H1 2026 Systematic Crypto Theft Campaign(80%)
- Huione Group→mentioned with→North Korea Lazarus Group — H1 2026 Systematic Crypto Theft Campaign(80%)
- Huione Group→mentioned with→Tether(70%)
Connected Through
5 shared actors · 195 investigationsDistinct actors this investigation shares with others — holders, traders, and named parties. Shared infrastructure (exchanges, pools) is excluded.
- □Tetherorganization
- □North Korea Lazarus Group — H1 2026 Systematic Crypto Theft Campaignorganization
- □Huione Grouporganization
- □Chen Zhi / Prince Grouporganization
Timeline(14 events)
August 2021
Huione Group begins receiving illicit proceeds — the start date cited in FinCEN's formal analysis covering August 2021 to January 2025.
FinCEN Final Rule (October 2025)May 2024
Lazarus Group (DPRK) hacks Japanese virtual asset service provider DMM, stealing approximately $305 million; approximately $35 million later attributed to have transited Huione Group.
CryptoNews.com / FinCENJuly 2024
Elliptic publishes first major exposure of Huione Guarantee as the world's largest illicit online Telegram marketplace.
EllipticSeptember 2024
National Bank of Cambodia suspends Huione Pay's payment services license.
Radio Free Asia / CambodianessOctober 2024
H-Pay Service PLC incorporated in Cambodia according to the country's business registry. Hun To and Li Xiong resign from Panda Bank's board of directors.
CamboJA News2025
FinCEN's formal analysis of Huione Group illicit proceeds covers through this date — at least $4 billion total documented.
FinCEN6 March 2025
National Bank of Cambodia formally revokes Huione Pay's banking/payment services license.
Radio Free AsiaMay 2025
FinCEN issues proposed rulemaking identifying Huione Group as a financial institution of primary money laundering concern under Section 311 of the USA PATRIOT Act.
FinCENMay 2025
Telegram bans Huione Guarantee's channels. Successor dark marketplaces emerge to fill the void.
Elliptic14 October 2025
FinCEN issues final rule severing Huione Group from the U.S. financial system. UK Foreign, Commonwealth and Development Office and OFAC take complementary actions on the same date.
FinCENDecember 2025
Approximately 1,300 Huione Pay customers submit identity documents and claims to the National Bank of Cambodia seeking recovery of frozen funds.
Cambodianess23 June 2026
U.S. DOJ announces seizure of cloud computing account used by Huione Group subsidiaries. FinCEN simultaneously issues NPRM to extend Huione Group final rule to H-Pay Service PLC and any future successor entities. Treasury also announces OFAC designations targeting 9 individuals and 26 entities linked to Prince Group TCO.
DOJ / FinCEN / Treasury25 June 2026
FinCEN NPRM (document 2026-12794) published in the Federal Register, formally proposing to extend the Huione Group primary money laundering concern designation to H-Pay Service PLC and successor entities.
Federal RegisterDecision Log
- slot 464269256 · hash J9eX7jPiwYboHdU6vAiXBigkGyGRBG3ofwVQu2wsFGPw
- slot 464269251 · hash Bpd9CScVStXWP1J6SSjNQbPkVS2pHcvKnvotCHDg7JNj
- slot 461964527 · hash 5yjzqFTAUY9c9cpP7C3cvyzpSoUxrbrVykKiEDupAbwe
- slot 429021538 · hash 23cxSLKy4ywaHYyWgj7sao5QnBqvywWG4oLVY51Riu5b
This investigation is cryptographically anchored to the Solana blockchain (4 decisions). 27 of 27 cited source URLs have an Internet Archive snapshot.
model: claude-sonnet-4-6
generated: 6/26/2026, 12:29:46 PM
last updated: 11/1/2026, 11:01:03 PM
5 viewsavoid.net — verified advice for a post-truth world