๐จ U.S. Treasury Blocks Huione Group Over North Korean Crypto Laundering ๐จ
๐ฐ Treasury Takes Action Against Cambodia-Based Money Launderers!
The U.S. Treasury has launched a major offensive against the Huione Group, cutting off their access to the American banking system! ๐ฆ๐ซ Why? They're allegedly washing billions in stolen crypto for North Korea's infamous Lazarus Group hackers! ๐ป๐ฐ๐ต
๐ Key Developments:
* ๐ On May 1, FinCEN proposed rules blocking U.S. financial institutions from working with Huione Group
* ๐ธ Treasury Secretary Scott Bessent: This action will "cut off Huione's correspondent banking access"
* ๐ Huione operates multiple shady businesses including Huione Pay, Huione Crypto, and Haowang Guarantee
* ๐ฑ The group has allegedly laundered a staggering $4 BILLION in illicit funds since 2021! ๐ฑ
๐ต๏ธ The Criminal Connection:
* ๐ฐ๐ต At least $37 million linked directly to North Korean cyber heists
* ๐ท Over $36 million from "pig butchering" crypto scams targeting Americans
* ๐ต Created their own stablecoin (USDH) designed specifically for money laundering
* ๐ฆ Already lost their Cambodian banking license in March for illegal digital asset activities
โฑ๏ธ What's Next:
The proposed rule is open for 30 days of public comment before implementation. This represents a significant escalation in U.S. efforts to combat crypto-based money laundering and North Korean cybercrime operations! ๐ก๏ธ
#CryptoSecurity #MoneyLaundering #Sanctions #NorthKorea #CyberCrime ๐