Cambodian Government Implicated in $19 Billion Crypto Scam Fueled by Deceit and Forced Labor

Cambodian officials have been linked to a $19 billion cryptocurrency fraud network involving forced labor and deceptive practices. The operation, which utilizes Telegram-based payment systems, has drawn international scrutiny as it extends beyond Southeast Asia.

High-ranking individuals, including the prime minister’s cousin and a deputy interior minister, are allegedly involved. A watchdog report highlights the use of sophisticated crypto schemes to launder money and exploit victims, with suspects reportedly protected by influential figures.

Huione Group, a Cambodian company, operates a Telegram-based service for illicit payments and has even issued its own stablecoin to evade banking systems. The U.S. Treasury has flagged the firm as a significant money-laundering threat, calling for sanctions.