- The Huione Guarantee has facilitated at least $11 billion worth of transactions
- Huione Guarantee’s work is allegedly associated with Cambodia’s ruling Hun family
- This also points to Huione International Payments and money laundering around the world
Analytics company Elliptic published data in which Huione Guarantee facilitated transactions worth at least $11 billion.
Huione facilitates cyber fraud in Southeast Asia through multiple instant messaging application channels.
It works with a large amount of decentralization, managed by different USDT merchants for payments. The main countries involved are Myanmar, Laos, and Cambodia, where victims of human trafficking from China, Vietnam, and the Philippines are forced to work.
It also cast a shadow over the entire Huione Group, pointing to money laundering worldwide by Huione International Payments.
A cousin of Cambodian Prime Minister Hun Mane, Hun To is believed to be one of the directors of Huione Pay. He is also accused of heroin trafficking and money laundering by Australian authorities and links to organized crime in China.
The Decrypt, Tether representatives, comments are as follows:
“When blockchain analysts choose to publicize their findings without engaging directly with us, it limits our ability to act swiftly to freeze illicit activities linked to our stablecoins. This becomes a bystander effect, where individuals observe wrongdoing but choose to record it for social media engagement and notoriety.”
This is another proof that not everyone is using crypto to build a brighter and more honest future.
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