1️⃣ Online marketplace Huione Guarantee, linked to Cambodia's elite, has reportedly facilitated over $11 billion in crypto scams across Southeast Asia. It operates like a darknet marketplace through thousands of instant messaging channels, mainly using USDT for transactions.
2️⃣ Huione, part of Huione Group connected to Cambodia’s ruling family, is accused of running "pig butchering" scams and other frauds like Ponzi schemes and impersonation frauds.
3️⃣ Elliptic, a blockchain analytics firm, identified hundreds of crypto addresses associated with Huione's illicit activities to help exchanges and law enforcement combat these scams.
4️⃣ The group’s subsidiary, Huione Pay, allegedly involves figures with ties to organized crime and has faced allegations of money laundering and trafficking.
5️⃣ The report also exposes severe human rights abuses in scam compounds in Myanmar, Laos, and Cambodia, where trafficked workers are forced to carry out fraudulent activities under harsh conditions, sometimes resulting in torture and su*c*de.
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