July 10, 2024 at 04:33AM
Cryptocurrency analysts uncovered HuiOne Guarantee, an online marketplace utilized by cybercriminals in Southeast Asia, facilitating transactions totaling at least $11 billion and primarily associated with pig butchering scams. Connected to Cambodian conglomerate HuiOne Group, it offers money laundering services and engages in various fraudulent activities, targeting victims worldwide. Elliptic’s report sheds light on its involvement in enabling cyber scam operators in Southeast Asia.
It seems that the meeting notes are highlighting the activities of an online marketplace called HuiOne Guarantee that is widely used by cybercriminals in Southeast Asia, particularly those involved in pig butchering scams. The marketplace, part of HuiOne Group, is linked to a Cambodian conglomerate with ties to Cambodia’s ruling Hun family. Another business under HuiOne, HuiOne International Payments, has been implicated in laundering scam proceeds globally. Additionally, the notes mention that a diverse range of goods and services offered on the platform are primarily aimed at cyber scam operators, including money laundering services, software and web development for creating scam crypto investment websites, as well as tools for imprisoning and torturing workers involved in the pig butchering scams. Elliptic, a British blockchain analytics firm, has shed light on these activities and their implications for cyber scam operations in Southeast Asia.