According to BlockBeats, on July 10, Wired reported that based on the magazine's research and information from the encryption tracking company Elliptic, it believes that Huione Guarantee is an online financial platform related to the Cambodian ruling family. It is also a market that provides funds for the global fraud economy (especially pig killing), involving a total amount of up to 11 billion US dollars.
The platform 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 schemes. Users mainly use stablecoin USDT for transactions. Huione Guarantee is part of the Huione Group, a Cambodian conglomerate with ties to the Cambodian ruling family, whose members include Cambodian Prime Minister Hun Manet.
