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Huione Group Shut Down for $4 Billion Money Laundering

12/5/2025

Summary

Story summary

The Cambodian National Bank closed Huione Group after it was implicated in laundering over $4 billion for criminals since August 2021.
The U.S. Treasury Department blacklisted Huione in November, labeling it a money-laundering front.
An investigation found that Huione facilitated online scams and evaded law enforcement.
The Cambodian National Bank revoked Huione's license, liquidated its assets, and stated that no institutions are authorized to conduct cryptocurrency transactions in Cambodia.

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Story summary

The Cambodian National Bank closed Huione Group after it was implicated in laundering over $4 billion for criminals since August 2021.
The U.S. Treasury Department blacklisted Huione in November, labeling it a money-laundering front.
An investigation found that Huione facilitated online scams and evaded law enforcement.
The Cambodian National Bank revoked Huione's license, liquidated its assets, and stated that no institutions are authorized to conduct cryptocurrency transactions in Cambodia.