Overview
- The company suspended operations for more than a month following a surge in withdrawal requests, according to local media reports.
- Branches in Phnom Penh shut their doors and posted notices halting cash withdrawals as crowds lined up outside.
- U.S. FinCEN designated Huione a primary money‑laundering concern and cut it off from the U.S. financial system, while Cambodia’s central bank revoked its license.
- Authorities and researchers accuse the network of handling billions in illicit crypto flows, including funds linked to North Korean cyber operations, with one analysis estimating as much as $98 billion.
- Local coverage reports a rebrand to H‑Pay, and exchanges including Upbit and OKX have frozen or closed accounts tied to the network as part of compliance actions.