Huione Group
Cambodian financial conglomerate
From Wikipedia, the free encyclopedia
Huione Group (Khmer: ហួយវ័ន គ្រុប, Chinese: 汇 旺 集团, romanized: Huìwàng jítuán) is a Cambodian financial conglomerate,[1] headquartered in Phnom Penh.[2] Some of its products and subsidiaries include Huione Pay (Chinese: 汇旺支付, romanized: Huìwàng zhīfù) (banking),[1] Huione Guarantee (Chinese: 汇旺担保, romanized: Huìwàng dānbǎo) (an escrow and deposit service sometimes used as a grey market),[3] and Huione Crypto (Chinese: 汇旺(加密货币)交易所, romanized: Huìwàng (jiāmì huòbì) jiāoyìsuǒ) (a cryptocurrency exchange).[3] The company is linked to Cambodia's ruling Hun family, which includes the current prime minister, Hun Manet.[4] His cousin Hun To is a major shareholder and director of Huione Pay.[5]
Money laundering charges
In July 2024, the blockchain analytics firm Elliptic linked Huione Guarantee to the sale of stolen data and money laundering services used to conduct illegal activities,[6] such as the so-called pig butchering scam.[3][4][2] In March 2025, the National Bank of Cambodia revoked Huione Pay's banking license.[1] In May, the U.S. Department of the Treasury's Financial Crimes Enforcement Network found Huione Group to be a financial institution of primary money laundering concern and proposed to sever its access to the U.S. financial system.[7] FinCEN reported that Huione Group laundered over US$4 billion in illegal funds from August 2021 to January 2025, including US$37 million from North Korean cyber heists and US$36 million from fraud scams.[8] Shortly after, Telegram deleted thousands of channels used by Huione Guarantee and banned several accounts that had operated the marketplace.[9] It has grown to become the largest criminal marketplace of all time, with transactions totalling more than $27 billion.[10]
In April 2026, Huione's former chairman Li Xiong was extradited to China to face money laundering charges. Chinese authorities described Huione as a subsidiary of Prince Group and Li as a key member of Prince founder Chen Zhi's "criminal gang".[11]