Blockchain detective Elliptic has found that Huione Guarantee, an online marketplace frequently used by scammers in Southeast Asia, has processed at least $11 billion in transactions. 😲💰 Most of this money is linked to money laundering and cyber fraud.

Huione Guarantee is an online marketplace operated by Cambodian conglomerate Huione Group. It was founded in 2021 as a legitimate marketplace for products such as real estate and automobiles. However, it currently mostly targets cyber crooks. 🕵️‍♂️💻

Investigators found that the largest group operating on Huione Guarantee offered money laundering services, accepting payments from victims, transferring funds across borders and converting them into cash, stablecoins and Chinese payment apps.

It was stated that Huione Guarantee has the characteristics of a shadowy marketplace, but is operated by the Huione Group, a large Cambodian conglomerate.

Elliptic said crypto exchanges and other businesses can check transactions with links to Huione-related wallets to prevent further money laundering.

So how do you think Huione can solve this situation? We are waiting your comments! 🤔💬