US Blacklists Huione Group for Money Laundering

Cambodian Firm Worked Directly With North Korea, Say US Officials David Perera (@daveperera) , Chris Riotta (@chrisriotta) • October 14, 2025

A Cambodian company at the center of Southeast Asian cybercrime is officially banned from the dollar settlement system, the U.S. Department of Treasury said Tuesday.

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The Huione Group consists of a large illicit online marketplace, a money laundering service and a cryptocurrency trading platform for its own brand of stablecoin. The U.S. Department of Treasury set in motion earlier this year a process for banning the company from access to the dollar financial system - an effort that concluded with Tuesday's publication of a final rule.

Treasury said Huione Group laundered at least $4 billion in illicit proceeds between August 2021 and January 2025, including $300 million in virtual currency tied to various scams ...