Sanctioned Cambodian Lender Huione, Linked to Illicit Crypto, Halts Business After Bank Run: Report
Cambodia’s Huione Pay, a central node in the Huione family of financial companies targeted by U.S. sanctions, froze withdrawals on Monday and suspended business for more than a month, sparking panic among users who rushed to its headquarters seeking access to their savings, according to local media reports.
Regulators and U.S. authorities have long warned that Huione’s operations were intertwined with money laundering and crypto-based scam activity. FinCEN severed Huione Group’s ties to the U.S. financial system earlier this year, and Cambodia’s central bank had already revoked Huione Pay’s license.
According to prior CoinDesk reporting, Elliptic identified that Huione Pay and its Telegram-based marketplace Huione Guarantee…
