Huione Group is a Cambodian financial conglomerate,[1] headquartered in Phnom Penh. Some of its products and subsidiaries include Huione Pay (banking),[1] Huione Guarantee (an escrow and deposit service sometimes used as a grey market),[2] and Huione Crypto (a cryptocurrency exchange).[2] The company is linked to Cambodia's ruling Hun family, which includes the current prime minister, Hun Manet.[3] His cousin Hun To is a major shareholder and director of Huione Pay.[4]
Money laundering charges
In July 2024, the blockchain analytics firm Elliptic linked Huione Guarantee to the sale of stolen data and money laundering services used to conduct illegal activities,[5] such as the so-called pig butchering scam.[2][3][6] In March 2025, the National Bank of Cambodia revoked Huione Pay's banking license.[1] In May, the U.S. Department of the Treasury's Financial Crimes Enforcement Network found Huione Group to be a financial institution of primary money laundering concern and proposed to sever its access to the U.S. financial system.[7]
External links
- Huione Pay (archived)
References
- Exclusive: World's 'largest online black market' loses banking license Radio Free Asia, retrieved 23 March 2025^
- Matt Burgess. The 'Largest Illicit Online Marketplace' Ever Is Growing at an Alarming Rate, Report Says Wired.com, retrieved 23 March 2025^
- Andy Greenberg. The $11 Billion Marketplace Enabling the Crypto Scam Economy