Cambodian payment service Huione Pay has announced a temporary shutdown until January 5, 2026, following a sudden large-scale withdrawal by users. The company's headquarters in Phnom Penh saw long queues of customers, with notices in Chinese stating a delay in payments. This development comes after the U.S. Financial Crimes Enforcement Network (FinCEN) identified Huione Group in May as a significant money laundering risk, accusing it of facilitating laundering for North Korean and Southeast Asian fraud networks, including crypto scams known as "pig butchering."
Huione Pay Halts Operations Amid Liquidity Crisis and Money Laundering Allegations
Disclaimer: The content provided on Phemex News is for informational purposes only. We do not guarantee the quality, accuracy, or completeness of the information sourced from third-party articles. The content on this page does not constitute financial or investment advice. We strongly encourage you to conduct you own research and consult with a qualified financial advisor before making any investment decisions.
