{"id":11834,"date":"2024-07-11T06:05:48","date_gmt":"2024-07-11T06:05:48","guid":{"rendered":"https:\/\/topat10.com\/?p=11834"},"modified":"2024-07-11T06:05:48","modified_gmt":"2024-07-11T06:05:48","slug":"the-11-billion-marketplace-enabling-the-crypto-scam-economy","status":"publish","type":"post","link":"https:\/\/topat10.com\/?p=11834","title":{"rendered":"The $11 Billion Marketplace Enabling the Crypto Scam Economy"},"content":{"rendered":"


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That public nature of the criminal transactions is all the more shocking given that Huione Guarantee is operated by Huione Group, a Cambodian financial conglomerate that includes a company linked to the family of Cambodia\u2019s prime minister, Hun Manet. One of the companies’ directors, in fact, is Hun To, the prime minister\u2019s cousin, who has been linked in an Al Jazeera investigation<\/a> to an alleged scam compound reportedly owned by Heng He, a Cambodian conglomerate owned by two Chinese nationals.<\/p>\n

Crypto scam researchers say that Huione Guarantee, despite its size, is just one of many money laundering methods that pig butcherers use. Given that much of the pig butchering ecosystem has ties to Chinese organized crime, pig butchering revenue is often laundered in a decentralized way by convincing individual Chinese citizens to accept and hand off cryptocurrency through their personal Alipay accounts for a small fee, notes Gary Warner, director of intelligence at cybersecurity firm DarkTower. Markets like Huione Guarantee, however, offer a path for scammers who don\u2019t already have a laundering network they can rely on or who need to diversify their options for liquidating funds.<\/p>\n

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