Huione Group (Haowang Guarantee)
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anchored·35br6w…SMwZSummary
Huione Group is a Cambodia-based conglomerate that operated Huione Guarantee (also known as Haowang Guarantee), a Telegram-based peer-to-peer marketplace that blockchain analytics firm Elliptic has described as the largest illicit online marketplace ever recorded, processing over $31 billion in illicit transactions since 2021. The group's payments arm, Huione Pay, received an additional $103 billion in cryptocurrency payments over its lifetime. On June 23, 2026, the U.S. Department of Justice seized the cloud computing infrastructure used by Huione Group subsidiaries as part of Operation Riptide; the U.S. Treasury's FinCEN had previously designated Huione Group a primary money laundering concern in October 2025 under Section 311 of the USA PATRIOT Act and simultaneously proposed extending the ban to successor entity H-Pay Service PLC.
Connected Entities
10 entities · 60 linked investigations- Chen Zhi / Prince Group→mentioned with→Bitcoin(80%)
- Ethereum→mentioned with→Bitcoin(60%)
- Binance→mentioned with→Ethereum(65%)
- H-Pay Service PLC (Huione Successor Entity)→mentioned with→Chen Zhi / Prince Group(75%)
- Prince Group Transnational Criminal Organization→mentioned with→Chen Zhi / Prince Group(85%)
- Prince Group Transnational Criminal Organization→mentioned with→Bitcoin(60%)
- Huione Group (Haowang Guarantee)→mentioned with→Bitcoin(60%)
- Huione Group (Haowang Guarantee)→mentioned with→Ethereum(60%)
- Xinbi Guarantee→mentioned with→TRON(70%)
- Huione Group (Haowang Guarantee)→mentioned with→Binance(65%)
- + 17 more
Timeline(11 events)
2021
Huione Guarantee marketplace launched on Telegram, operating as a peer-to-peer escrow platform primarily for criminal services settled in USDT.
Elliptic / Behind the FBI Case Against HuioneJuly 2024
Elliptic publicly exposed Huione Guarantee as a criminal marketplace; at that point the platform had processed over $11 billion in cryptocurrency. Monthly inflows subsequently increased 51% following the exposure.
Elliptic / Huione Largest Ever Illicit Online MarketplaceAugust 2024
Huione Group launched ChatMe, a Telegram-like messaging app integrated with its own blockchain, available in Apple and Google app stores.
Elliptic / Huione Stablecoin LaunchSeptember 2024
Huione Group launched USDH stablecoin, explicitly marketed as 'unfreezable' and exempt from traditional regulatory restrictions, alongside Huione Chain and Huione Crypto exchange. Huione Guarantee was rebranded as Haowang Guarantee.
Elliptic / Huione Stablecoin Launch2 May 2025
U.S. Treasury proposed designating Huione Group as a foreign financial institution of primary money laundering concern under Section 311 of the USA PATRIOT Act.
US News / US Moves to Ban Cambodia's Huione Over Alleged Money Laundering13 May 2025
Telegram removed Huione Guarantee (Haowang Guarantee) channels. The marketplace had processed over $27-31 billion in transactions by the time of removal, making it the largest illicit online marketplace ever recorded.
CoinDesk / Telegram Shuts Down $27B Illicit Marketplace19 June 2025
Cambodia's Ministry of Commerce formally ordered Huione Pay into liquidation under Decision No. 1081 P.N.Ch.BP, supervised by REACHS and Partners Co., Ltd.
ICIJ / Cambodian Payment Processor Freezes Customer Funds14 October 2025
U.S. Treasury, coordinating with the United Kingdom, took combined action against Southeast Asian cybercriminal networks. OFAC sanctioned 146 targets within the Prince Group TCO. FinCEN issued final Section 311 rule severing Huione Group from the U.S. financial system.
U.S. Treasury Press Release / U.S. and U.K. Take Largest Action Ever Targeting Cybercriminal Networks2026
Tudou Guarantee, a successor marketplace to which Huione merchants migrated, collapsed after processing over $12 billion in transactions.
Elliptic / Behind the FBI Case Against HuioneApril 2026
Huione Group former chairman Li Xiong was extradited to China. Cambodia revoked his citizenship.
Elliptic / Behind the FBI Case Against Huione23 June 2026
DOJ announced seizure of cloud computing account serving as backbone infrastructure for Huione Group subsidiaries as part of Operation Riptide. FBI San Francisco Field Office and IRS Criminal Investigation executed the action. FinCEN simultaneously issued a Notice of Proposed Rulemaking to extend the Section 311 ban to successor entity H-Pay Service PLC.
U.S. Department of Justice Press ReleaseDecision Log
- hash: HaoThD5c8wecp5BNpPLkMfhSMZCheqEeCB9k7SsfJzX3
This investigation is cryptographically anchored to the Solana blockchain (1 event). 26 of 28 cited source URLs have an Internet Archive snapshot.
model: claude-code-investigator
generated: 6/26/2026, 12:10:08 PM
last updated: 7/28/2026, 4:23:12 AM
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