Cambodian Huione Group Faces U.S. Crackdown After $98B Crypto Inflows Linked to Illicit Activities

Huione Group, a Cambodian conglomerate with ties to the ruling Hun family, has processed $98 billion in cryptocurrency since 2014 through illicit schemes including money laundering and pig-butchering scams, according to blockchain analytics firm Elliptic. The U.S. Treasury’s Financial Crimes Enforcement Network (FinCEN) has designated the group as a "primary money laundering concern," seeking to sever its access to the American financial system.

The company operates a Telegram-based marketplace offering illegal services ranging from personal data sales to human restraint devices. "Huione’s infrastructure enables transnational crime at industrial scale," said Elliptic co-founder Tom Robinson. The case highlights growing regulatory scrutiny of crypto’s role in cross-border financial crime.