Guarantee

Read

<p class="is-style-lead">Tether has reportedly frozen a Tron (<a href="https://crypto.news/price/tron/" target="_blank" rel="noopener noreferrer nofollow">TRX</a>) wallet containing more than 28 million USDT tokens suspected to be proceeds of criminal activities, including money laundering and fraud.</p>
<p>An account dedicated to the real-time observation of Tron and Ethereum (<a href="https://crypto.news/price/ethereum/" target="_blank" rel="noopener noreferrer nofollow">ETH</a>) stablecoins, USDT/USDC Ban List, reported on July 13 that an address, identified as TNVaKW, had been blacklisted by Tether with $28.25 million in USDT.</p>
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="nl" dir="ltr">TNVaKWQzau7xL9bcnvLmF9KSEQkWEs4Ug8<br>Timestamp: 12.07.2024, 23:21:36 UTC<br>Event: AddedBlackList<br>Balance: 28,257,162.94 USDT (TRC20)<a href="https://t.co/Whl97I1K7m" target="_blank" rel="noopener noreferrer nofollow">https://t.co/Whl97I1K7m</a></p>— USDT/USDC Ban List (@USDTBanList) <a href="https://twitter.com/USDTBanList/status/1811904659038306519?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">July 12, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
 </div>
</figure>
<p>The wallet is suspected of being tied to the Cambodian company Huione Group. Blockchain security firm Bitrace revealed in a July 14 post on X that the frozen wallet, activated on July 9, is linked to Huione Group’s Guarantee business.&nbsp;</p>
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr">📢The 29.62 million USDT addresses frozen are addresses related to the guarantee business of the Cambodian Huione Group that month.（1/n）<br><br>more details👇 <a href="https://t.co/s5AVUZD6sC" target="_blank" rel="noopener noreferrer nofollow">https://t.co/s5AVUZD6sC</a> <a href="https://t.co/tzLyZa04m7" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/tzLyZa04m7</a></p>— Bitrace (@Bitrace_team) <a href="https://twitter.com/Bitrace_team/status/1812339947250327860?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">July 14, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
 </div>
</figure>
<p>The analysis by Bitrace further indicated that Huione was attempting to bypass the freeze by activating a new address, TQuFSv, and transferring $114,800 in USDC from the frozen TNVaKW wallet.&nbsp;</p>
<p>Furthermore, according to Bitrace, despite Tether’s action, Huione’s other business addresses, including its old business address TL8TBp, remain operational.</p>
<p>You might also like: <a href="https://crypto.news/tether-loses-ground-market-share-shrinks-to-74/" rel="noopener noreferrer nofollow"> Tether loses ground, market share shrinks to 74% </a></p>
<h2 class="wp-block-heading" id="strong-huione-guarantee-linked-to-crypto-scams-strong"><strong>Huione Guarantee linked to crypto scams</strong></h2>
<p>On July 10, Elliptic — another prominent crypto-tracing firm — <a href="https://www.elliptic.co/blog/cyber-scam-marketplace?hs_amp=true" target="_blank" rel="noopener noreferrer nofollow">reported</a> on Huione Guarantee’s involvement in fraudulent activities, particularly pig-butchering scams.</p>
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr">A new investigation from the Elliptic research team sheds light on online marketplace Huione Guarantee. The platform is widely used by scam operators in South East Asia, including those involved in <a href="https://twitter.com/hashtag/pigbutchering?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#pigbutchering</a> scams. Read the full analysis ➡️ <a href="https://t.co/p9tqquGhJ6" target="_blank" rel="noopener noreferrer nofollow">https://t.co/p9tqquGhJ6</a></p>— Elliptic (@elliptic) <a href="https://twitter.com/elliptic/status/1810943317695197424?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">July 10, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
 </div>
</figure>
<p>According to Elliptic, the online marketplace has emerged as a major <a href="https://crypto.news/cambodian-marketplace-huione-guarantee-became-hub-for-crypto-scammers-elliptic/" target="_blank" rel="noopener noreferrer nofollow">hub</a> for scam operations in Southeast Asia and has been linked to criminal transactions totaling at least $11 billion.</p>
<p>Elliptic claimed that the Cambodia-based company operates as a deposit and escrow service for peer-to-peer transactions on <a href="https://crypto.news/tag/telegram/" target="_blank" rel="noopener noreferrer nofollow">Telegram</a>, primarily using Tether’s USDT stablecoin. This apparently made it a favored platform for scammers and money launderers.&nbsp;</p>
<p>Furthermore, the blockchain analysis firm alleged that Huione Guarantee was connected to Cambodia’s ruling family, including Prime Minister Hun Manet.</p>
<p>In response to the report, law enforcement and blockchain analysts have started working to disrupt Huone’s operations by tracking crypto transactions and identifying wallets linked to the platform.</p>
<p>The <a href="https://crypto.news/tag/tether/" target="_blank" rel="noopener noreferrer nofollow">Tether</a> freeze highlights these ongoing efforts to clamp down on crypto-related fraud and the intricate web of financial crimes facilitated by seemingly legitimate crypto platforms.</p>
<p>Read more: <a href="https://crypto.news/few-jurisdictions-follow-virtual-asset-guidelines-fatf/" rel="noopener noreferrer nofollow"> Too few jurisdictions take proper virtual asset precautions: FATF </a></p>

Tether freezes $28m in USDT linked to Cambodian fraud

Tabla de contenidos

crypto.news

Otros artículos publicados el 14 jul 2024

Bitcoin Whales Unleash Crazy $4.26 Billion Shopping Spree

Bitcoin shoots past $60K as Trump’s failed assassination brings the bulls back

Trump’s Shooting Incident Boosts Altcoin Prices

Smart Traders Score Big with MKR and PEPE Investments

Chris Burniske Highlights Overlooked Altcoins in Market Analysis

Bitcoin Surges as Trump Incident Sparks Market Reactions

¡Únete a nuestro boletín gratuito para recibir actualizaciones diarias de criptografía!