Security company: Illegal trading platform Huione launched its own stablecoin USDH to circumvent regulatory restrictions
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.
You may also like
Notice: Maintenance for VND deposit service
TAUSDT now launched for futures trading and trading bots
Bitget to decouple loan interest rates from futures funding rates for select coins in spot margin trading
Bitget Launches HYPE On-chain Earn With 2.1~4.5% APR
Trending news
MoreCrypto prices
More
