Cambodia's Huawang Payment suspended operations until January 5th next year due to a brief run on its accounts and initiated a deferred repayment plan.

Odaily Planet Daily reports that Huione Pay, a Cambodian payment provider, suddenly announced on December 1st that it would suspend operations until January 5th of next year and implement a delayed repayment plan due to a large-scale run on its accounts. Long queues of users have formed outside its Phnom Penh headquarters, and Chinese-language notices regarding the delayed repayments have been posted at its stores. It is worth noting that in May of this year, the US-based FinCEN listed Huione Pay Group as a major money laundering risk entity, accusing it of providing money laundering channels for transnational fraud organizations in North Korea and Southeast Asia, and being involved in cryptocurrency scams such as "pig butchering" schemes. (Cambodia-China Times)