US Treasury Probes Cambodian Cryptocurrency Fraud Network

A major cryptocurrency fraud in Cambodia is under investigation, allegedly involving forced labor and potentially billions of dollars worth of illicit funds. The Huione Group, a company linked to the alleged scheme, reportedly controls over 60% of Cambodia’s GDP, making it a dominant economic force within the country. This significant influence raises concerns about financial governance in Southeast Asia as international watchdog groups question ties between the group and potential government involvement in illicit activities.