According to Foresight News, blockchain analysis firm Elliptic released a report on Wednesday accusing the Cambodian market Huione Guarantee of money laundering and other criminal activities. Since its establishment in 2021, Huione and its merchants' crypto wallets have reportedly received at least $11 billion, primarily transacted using Tether (USDT).
Elliptic has pointed out that Huione executives have connections with Cambodian Prime Minister Hun Sen and accused the platform of turning a blind eye to money laundering, 'sexual exploitation', and other criminal activities. The firm has identified and flagged hundreds of cryptocurrency addresses controlled by Huione, aiming to prevent further money laundering activities.