US EditionUS Treasury Moves to Cut Off Huione Group Over $4 Billon Money Laundering Network
- On May 1, 2025, the U.S. Treasury Department announced plans to block the Huione Group, operating out of Cambodia, from accessing the American financial network due to its involvement in illegal activities.
- This action stems from Huione's alleged role in laundering over $4 billion from North Korean hackers, notably the Lazarus Group, and other cybercriminals.
- Huione operates Telegram-based platforms involved in 'pig butchering' scams and money laundering, handling billions in cryptocurrency linked to cyber heists since 2021.
- Treasury Secretary Scott Bessent remarked that Huione Group has become a preferred platform for cybercriminals, including North Korean operatives and organized crime groups, who have stolen billions from American individuals.
- The proposed severance will disrupt Huione's access to correspondent banking, aiming to hinder North Korean-supported cybercrime financing and global money laundering.
40 Articles
40 Articles
U.S. Moves to Blacklist Huione Group Over Money Laundering Ties - Overpasses For America
The Trump administration designated a Cambodian financial conglomerate as a money-laundering operation on Thursday, taking the first step to sever its access to the American financial system. The Treasury Department said that since August 2021, the company, Huione Group, and its affiliates had laundered $4 billion for criminals, including hackers in North Korea and scammers in Southeast Asia. “Huione Group serves as a significant node of the mon…
US blacklists Cambodian firm for aiding North Korean crypto laundering
The U.S. moved to cut off a Cambodia-based financial services network from the American banking system on Thursday over its links to North Korean cryptocurrency laundering, marking the Trump administration’s first announcement of measures tackling Pyongyang’s illicit cyber operations. The U.S. Treasury Department’s Financial Crimes Enforcement Network (FinCEN) announced in a press release that it […]
FinCEN Targets Cambodian Firm As Crypto Money Launderer
The U.S. Department of the Treasury's financial crimes watchdog on Thursday called out Cambodia-based Huione Group as a primary money laundering concern and proposed to "sever its access to the U.S. financial system" due to its alleged laundering of $4 billion worth of crypto scam and other illicit proceeds.
US moves to ban Cambodia's Huione over alleged money laundering
The U.S. Treasury plans to ban Cambodian financial firm Huione Group from the U.S. financial system, deeming it of "primary money laundering concern" over its alleged role in laundering illicit funds from cyber heists and online scams.
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