Captured By Tracy D'souza / 8:47 pm on 8 July 2025
Following FinCEN's designation of Cambodia-based Huione Group as a major money laundering concern in May 2025, wallets linked to Huione moved over $1 billion in USDT to centralized crypto exchanges between May 1 and June 17. The U.S. Treasury accused Huione of laundering over $4 billion in illicit funds from scams and North Korean cyber activities. Despite restrictions placed on U.S. financial institutions, Huione continues using indirect methods like OTC desks and nested exchanges to transfer funds. The activity highlights ongoing challenges in crypto regulation and enforcement as authorities worldwide intensify efforts to curb money laundering through digital assets.
