As the Justice Department pursues Prince Group's leader, the Treasury Department sanctioned the company while also severing Huione from the U.S. finance.
The US government is moving to seize 127,271 Bitcoin worth about $14.2 billion, which investigators say was generated through a cross-border “pig butchering” scam operated by Chinese national Chen Zhi. If completed, the Bitcoin should be added to the U.S.’s Strategic Bitcoin Reserve according to the terms of Trump’s Executive Order issued earlier this year. […]
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The 2025 Typologies Report outlines laundering tactics, mule account patterns and cross-chain transfers.
Shan Hanes, the former CEO of Heartland Tri-State Bank, wired millions in embezzled funds to scammers who promised crypto riches and was arrested in 2024. Now, a DOJ complaint shows he was the single largest victim in a global "pig butchering" USDT laundering network.
According to OFAC, Funnull Technology Inc. provides computer infrastructure for “hundreds of thousands” of pig butchering websites.
The wallets received payments directly from Huione Pay, a subsidiary of Huione Group.
Illicit marketplaces are a key part of the growing global cyberscams industry, with Southeast Asia being among the hubs for such activity.
The Karen National Army and its leaders were sanctioned on accusations they perpetuated crimes against U.S. citizens that featured crypto thefts.
The group rolled out its own stablecoin in January to avoid traditional currency restrictions.
The world’s largest illicit online marketplace keeps growing following the launch of its own crypto products, according to Elliptic.
Nigeria’s anti-corruption agency arrested 792 suspected to be involved in a crypto romance scam scheme based out of the country’s largest city.
Daren Li oversaw the transfer of more than $73 million away from crypto scam victims to wallets he and his co-conspirators controlled.
Hong Kong authorities have dismantled a HK$360 million ($46.3 million) cryptocurrency-based romance fraud scheme in a significant crackdown on fraud operations. This scheme, which targeted individuals over a year, reportedly lured victims into investing in cryptocurrencies under the guise of online romantic relationships. Related Reading: Expert Analysis: Why Ethereum And Bitcoin ETFs Struggle To Gain Traction […]
Vietnamese police arrest five individuals linked to a crypto scam network, unraveling an offshore-led operation targeting unsuspecting victims.
The U.S. Securities and Exchange Commission (SEC) has filed suit against three individuals and five companies for allegedly operating pig butchering scams – a type of confidence-enabled investment scam in which fraudsters befriend victims over text-based social media apps, gain their trust and convince them to invest large amounts of money in fictitious crypto platforms before stealing their funds and disappearing.
The lifespan of scams is getting shorter as cybercriminals change tactics and target individuals on social media.
Chainalysis’ Operation Spincaster found over 2,000 Australian-owned crypto wallets were hit by “approval phishing” scams.
Tether has frozen $28 million worth of USDT tokens connected to the Huione Group business in Cambodia. This is a big deal in the world of cryptocurrencies. This move comes after claims of theft and money laundering, showing how hard it is to regulate digital currencies. Related Reading: No Bail For Tornado Cash Dev Alexey […]
Huione Guarantee, a Cambodian online financial platform linked to the nation's ruling family, is a marketplace enabling the global scam economy, particularly pig-butchering scams, to the tune of $11 billion, a report by Wired alleges.
South Korean law enforcement has struck a blow against social media-fueled crypto scam with the arrest of 19 individuals linked to a deceptive “crypto reading room.” The Daegu Police Agency’s raid, which unfolded on May 21st, exposed a manipulative scheme that preyed on more than 300 unsuspecting investors, swindling them out of a staggering $19 […]