From Cointelegraph
May 2, 2025 12:39 am:

The US Treasury Department aims to block Huione Group from the US banking system for assisting North Korea’s Lazarus Group in laundering crypto. Huione Group is linked to cybercriminal activities, including a $4 billion illicit proceeds laundering scheme. The conglomerate offers services like Huione Pay PLC, Huione Crypto, and Haowang Guarantee for criminal activities. The proposed rule is under a 30-day public comment period before implementation. Source: Chainalysis.

Huione Group has allegedly laundered $4 billion in illicit proceeds, including $36 million from crypto pig butchering scams. $37 million of the laundered crypto is linked to North Korea’s cyber heists. Haowang Guarantee provides a platform for criminals to launder crypto and convert it to fiat currency. The conglomerate’s stablecoin, USDH, aids in money laundering activities. The National Bank of Cambodia revoked Huione Group’s local banking license in March. Source: Chainalysis.

Read more at Cointelegraph: US Treasury wants to cut off Huione over ties to crypto crime