1 hour ago
The scandal-plagued level blamed a surge successful withdrawals for its shutdown, the latest fallout from U.S. sanctions and money-laundering allegations targeting the wider Huione network.
Dec 2, 2025, 6:49 a.m.
Cambodia's Huione Pay, a cardinal node successful the Huione household of fiscal companies targeted by U.S. sanctions, froze withdrawals connected Monday and suspended concern for much than a month, sparking panic among users who rushed to its office seeking entree to their savings, according to section media reports.
Regulators and U.S. authorities person agelong warned that Huione’s operations were intertwined with wealth laundering and crypto-based scam activity. FinCEN severed Huione Group's ties to the U.S. fiscal strategy earlier this year, and Cambodia’s cardinal slope had already revoked Huione Pay’s license.
According to anterior CoinDesk reporting, Elliptic identified that Huione Pay and its Telegram-based marketplace Huione Guarantee processed arsenic overmuch arsenic $98 cardinal successful illicit crypto transactions earlier being unopen down successful 2025. Transactions included funds from virtual currency scams, cyber heists, and laundering operations linked to North Korea.
Crypto speech Upbit said successful November that it closed much than 200 accounts tied to Huione aft detecting suspicious virtual plus flows it believed were being utilized for laundering.
Reportedly, the institution has rebranded Huione Pay to H-Pay arsenic portion of the re-launch process.
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English (US) 