Huione continues to operate and process billions of dollars despite its shutdown announcement and sanctions from FinCEN .

The Haowang marketplace associated with Huione has formally ceased operations, but Chainalysis data shows that activity has not decreased. The platform avoids US jurisdiction and continues to use Telegram and a new domain .

Since 2021, Huione has received at least $81 billion in cryptocurrency - 16 times more than Hydra. The platform is involved in money laundering, fraud, and hacking using complex transfer schemes and physical exchanges. Experts believe that current measures are ineffective and require an international approach and more advanced blockchain analysis .