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BTCC / BTCC Square / Global Cryptocurrency /
Cryptocurrency Weaponized: Southeast Asia’s Crime Rings Fuel World Fraud, UN Reports

Cryptocurrency Weaponized: Southeast Asia’s Crime Rings Fuel World Fraud, UN Reports

Author:
Global Cryptocurrency
Published:
2025-04-26 18:58:02
20
1

Southeast Asia has emerged as the epicenter of global cyberfraud, with cryptocurrency playing a pivotal role in these illicit activities, according to a United Nations report. Criminal networks are leveraging digital assets to evade law enforcement, operating from remote locations and utilizing satellite internet alongside unregulated crypto exchanges.

The Haowang platform, allegedly tied to Cambodia, has processed more than $24 billion in crypto transactions since 2021. Its operations span gambling, trading applications, and even the issuance of a proprietary stablecoin. These sophisticated criminal enterprises continue to expand their reach despite intensified regulatory crackdowns worldwide.

|Square

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