In brief
- Cambodian officials are profiting from a $19B crypto-fueled scam industry involving trafficked labor, fraud compounds, and platforms such as Huione Guarantee, a report by Humanity Research Consultancy alleges.
- Cambodia-based Huione has reportedly processed $24 billion via Telegram and launched its own stablecoin to bypass financial oversight.
- Telegram recently banned Huione-linked accounts, as UN reports warn Cambodia has become a global hub for crypto-based fraud.
Cambodia’s ruling elite is entangled in a global scam economy powered by crypto, according to a new report that links senior government officials to billion-dollar laundering networks and platforms built to evade oversight.
High-ranking members of the Cambodian…
Jun 24 2025
