According to Foresight News, blockchain analysis company Elliptic released a report stating that the Cambodian market Huione Guarantee is suspected of money laundering and other criminal activities. Since its establishment in 2021, Huione and its merchants' crypto wallets have received at least $11 billion, mainly using Tether (USDT) for transactions.
Elliptic pointed out that Huione executives have links with Cambodian Prime Minister Hun Manet and said the platform turned a blind eye to criminal activities such as money laundering and "sexual exploitation." Elliptic has identified and marked hundreds of cryptocurrency addresses controlled by Huione to prevent further money laundering.