The US Treasury is moving to cut financial ties with Cambodia-based Huione Group, citing its alleged involvement in laundering over $4 billion related to illicit crypto activities, including connections to North Korean hackers. The Financial Crimes Enforcement Network (FinCEN) proposed a rule under the USA PATRIOT Act to designate Huione as a primary money laundering concern, which would prevent US banks from working with it. Huione reportedly supports various cybercrimes, including scams and high-profile hacks. The Treasury’s action aims to disrupt the group’s operations and deter similar illicit platforms as concerns over crypto-related crimes grow.
FinCEN Seeks to Block Huione from US System Citing North Korea-Linked Crypto Crimes
