US Cedes Huione Group’s Access to US Financial System, citing Massive Crypto Laundering

The U.S. Treasury has imposed restrictions on Huione Group, a Cambodian firm suspected of processing billions in illicit cryptocurrency funds connected to North Korea’s cybercrime activities. FinCEN alleges that Huione facilitated over $4 billion worth of criminal activity between 2021 and 2025, with a significant portion ($37 million) linked to the infamous Lazarus Group. This money-laundering scheme included both traditional financial instruments and cryptocurrencies. Huione’s services encompass a marketplace catering to online fraud networks and even a dedicated stablecoin suspected of concealing illicit funds.