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Cambodian Huione Group Faces U.S. Crackdown After $98B Crypto Scandal
Cambodian Huione Group Faces U.S. Crackdown After $98B Crypto Scandal
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Huione Group, a Cambodia-based conglomerate with ties to the ruling Hun family, has been flagged by the U.S. Treasury Department for allegedly receiving $98 billion in cryptocurrency since 2014 through illicit activities. Blockchain security firm Elliptic revealed the funds were linked to money laundering, pig-butchering scams, and online fraud.
The company operates a Telegram-based marketplace offering illegal services, including personal data sales and money laundering tools. U.S. FinCEN has designated Huione as a "primary money laundering concern," marking a significant escalation in regulatory scrutiny.
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