Crypto Crime goes to the industry while launching gangs coins, billions -billions of launders – un
Organized crime groups throughout South -East Asia have scaled their operations by exploiting cryptocurrency and launching their own coins, exchanges and blockchain networks to wash billions -billion dollars, according to a new report from the United Nations Office on Drugs and Crime (UNODC).
The Report Criminals say syndicate no longer uses existing crypto infrastructure. Instead, they actively build specialized financial ecosystems to prevent discovery.
An example mentioned in the report is the Chinese language ecosystem and market known as Huione guarantee, which has now been rebranded as Haowang, processing more than $ 24 billion in crypto linked to fraud for the past four years.
The headquartered in Phnom Penh, Cambodia, the platform has grown to over 970,000 users and thousands of coherent sellers.
“About Huione recently launched a range of own cryptocurrency -related products, including a cryptocurrency exchange and trading application, online gambling platform, blockchain network, and US dollar supported Stablecoin designed to avoid government controls,” reported.
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Southeast Asia appeared as a crypto crime hub
UNODC has warned that scam centers in Myanmar, Cambodia and Laos have industrialized cybercrime, combining blockchain, artificial intelligence and stablecoins in fuel operations.
These centers operate complex fraud schemes, including phishing, investment scam and “pig butchering,” which generates billions -billions of years, each report.
Some of the largest Pig butchering The syndicates have already been reported clustered around the region, According to Cointelegraph magazine.
Last year, many attacks led to the arrest of the road -the people, including the Chinese, Filipino, Indonesian, Malaysian, Thai and Vietnamese nationals were found In the suspected surgery of cyber -enabled fraud.
In October 2024, the police in Hong Kong Defrauded victim of more than $ 46 million.
Also, in December 2024, Nigeria’s anti-corruption agency 792 people were arrested In a raid on a building in the country’s largest city claimed it is a hub for a massive crypto romance scam operation.
Related: Coinbase users hit $ 46m with suspected phishing scams
Custom stablecoins and exchanges avoid administration
The UN report features that the syndicates are releasing their own stablecoins and creating private exchanges to prevent global financial regulations, allowing criminals to transfer funds without funding to borders without relying on basic platforms subject to anti-money laundering controls.
The Huione guarantee has launched a suite of crypto -related products, which also includes an exchange of cryptocurrency, a blockchain network (xone chain) and an online gambling platform. The group also announced the launch of a huione visa card in February 2025.
While Southeast Asia remains the center of the center, the UNODC noted that these operational operations are expanding in Africa, South America and the Pacific.
“The growing global impact of expanding money laundering in Asia and underground banking networks cannot be underlined,” reports said, urging governments to close loopholes.
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