Reuters reports that Cambodia-based financial company Huione Group is being mulled to be blacklisted by the Treasury Department's Financial Crimes Enforcement Network from the U.S. financial system over its supposed involvement in the laundering of funds obtained from illegal cyber activity.
At least $4 billion in illicit proceeds, including $73 million worth of cryptocurrency from North Korean crypto heists and romance baiting scams, have been laundered by Huione Group from August 2021 to January 2025, according to FinCEN, which also referenced a Reuters report in July that disclosed North Korean hacking collective Lazarus Group providing Huione Pay with over $150,000 worth of cryptocurrency from June 2023 to February 2024. Huione Group which said it was unaware of receiving funds obtained by the Lazarus Group from its attacks has yet to respond to FinCEN's proposal, which will still be reviewed over a 30-day period.
At least $4 billion in illicit proceeds, including $73 million worth of cryptocurrency from North Korean crypto heists and romance baiting scams, have been laundered by Huione Group from August 2021 to January 2025, according to FinCEN, which also referenced a Reuters report in July that disclosed North Korean hacking collective Lazarus Group providing Huione Pay with over $150,000 worth of cryptocurrency from June 2023 to February 2024. Huione Group which said it was unaware of receiving funds obtained by the Lazarus Group from its attacks has yet to respond to FinCEN's proposal, which will still be reviewed over a 30-day period.
