Exposing the Illicit Activities on Cambodian Cryptocurrency Marketplace
Friday, 12 July 2024, 16:13
Cryptocurrency Scams on Cambodian Platform
Elliptic, a British blockchain analysis company, has exposed the illicit activities on a major Cambodian online platform known as HuiOne Guarantee.
Involvement of Hun To and Chinese Groups
The scams also implicate Hun To, the cousin of current Prime Minister Hun Manet, and Chinese groups in the operations.
Multiple Illegal Schemes Worth US$11 Billion
- Money laundering: The marketplace is involved in extensive money laundering activities.
- Pig butchering scams: Shockingly, the scheme extends to fraudulent practices even in the meat industry.
The exposure sheds light on the range of fraudulent activities taking place on the platform, highlighting the need for vigilance and regulation in the cryptocurrency space.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.