Cambodia Huione Guarantee Funds Global Scam Economy, Involving $11 Billion

Odaily News According to Wired, based on the magazine's research and information from the crypto tracking company Elliptic, it believes that Huione Guarantee is an online financial platform related to Cambodia's ruling family and a market that provides funding for the global fraud economy (especially "pig killing"), involving up to $11 billion. The platform reportedly provides deposit and custody functions for peer-to-peer transactions conducted through the Telegram messaging system, and its listed services include deep fake scams, money laundering, and so-called pig killing. Users mainly use the stablecoin USDT for transactions. Huione Guarantee is part of the Huione Group, a Cambodian conglomerate with ties to the Cambodian rulers' Hong family, whose family members include Cambodian Prime Minister Hong Manet. (CoinDesk)