Cambodian Marketplace Huione Guarantee Tied to $11 Billion Crypto Scam

Elliptic's report reveals extensive cybercrime, human trafficking, and money laundering linked to Huione Group's platform.

Huione Guarantee facilitated $11 billion in transactions for various scams, including 'pig butchering' and Ponzi schemes.
The platform uses USDT stablecoin for payments and operates like a darknet marketplace via messaging apps.
Huione Group, tied to Cambodia's ruling family, is implicated in global money laundering and human trafficking.
Scam operations involve trafficked workers subjected to torture and forced labor in compounds across Southeast Asia.
Elliptic identified hundreds of crypto addresses linked to Huione, aiding exchanges and law enforcement in combating these scams.