Cambodia Faces Crypto Scam Allegations: $19 Billion Fraud Linked to Political Figures

A new watchdog report sheds light on Cambodia as the epicenter of a massive $19 billion crypto scam, involving political figures and the Huione Group. This alleged operation highlights the growing threat of state-linked fraud in the global cryptocurrency market. The report identifies Huione Group, a Cambodian company linked to illicit financial transactions, for its role in laundering billions of dollars through crypto channels. US Treasury sanctions further impact their cross-border operations.