Security company: Illegal trading platform Huione launched its own stablecoin USDH to circumvent regulatory restrictions

Bitget App

Trade smarter

Cointime2025/01/14 10:22

By:Cointime

blockchain security company Elliptic has reported that the illegal trading platform Huione, with a total transaction volume of $24 billion, has launched its own stablecoin USDH and chat service.

The platform previously mainly used USDT, but developed USDH to evade regulatory restrictions after Tether froze its account in July 2024 due to its involvement with the North Korean Lazarus organization.

Elliptic's investigation shows that the platform is related to the Cambodian Huione Group and is involved in illegal activities such as money laundering, fraud, and human trafficking, including mandatory online fraud activities in the Golden Fortune Technology Park.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Earn new token airdrops

Lock your assets and earn 10%+ APR

Lock now!

- FUN plunged 32.34% in 24 hours to $0.008938, marking a 541.8% monthly loss amid prolonged bearish trends. - Technical breakdowns, elevated selling pressure, and forced liquidations highlight deteriorating market sentiment and risk-off behavior. - Analysts identify key support below $0.0080 as critical, with bearish momentum confirmed by RSI (<30) and MACD indicators. - A trend-following backtest strategy proposes short positions based on technical signals to capitalize on extended downward trajectories.

Bitget-RWA•2025/09/12 06:14

FUN drops by 32.34% within 24 hours as it faces a steep short-term downturn

OPEN has dropped by 189.51% within 24 hours during a significant market pullback

- OPEN's price plummeted 189.51% in 24 hours to $0.8907, marking its largest intraday decline in history. - The token fell 3793.63% over 7 days, matching identical monthly and yearly declines, signaling severe bearish momentum. - Technical analysts cite broken support levels and lack of bullish catalysts as key drivers of the sustained sell-off. - Absence of stabilizing volume or reversal patterns leaves the market vulnerable to further downward pressure.

Bitget-RWA•2025/09/12 06:14