US cuts off Huione over $4bn crypto laundering, North Korea ties, and ‘unfreezable’ stablecoin – DL News
- The Huione marketplace laundered at least $4 billion in crypto says FinCEN.
- North Korea’s Lazarus Group used it to move stolen funds.
- Its ‘unfreezable’ stablecoin was designed to bypass controls.
Romance scams, North Korean hackers, and an “unfreezable” stablecoin have put a shadowy crypto marketplace in Washington’s crosshairs.
The US Treasury’s Financial Crimes Enforcement Network has designated Cambodia-based Huione Group a “primary money laundering concern” and proposed to “sever its access to the US financial system.”
In a notice issued yesterday, FinCEN said Huione has laundered at least $4 billion in illicit crypto since 2021.
This included $37 million linked to North Korea’s Lazarus Group, the same hackers…
