Google has removed the Huione mobile app from its Play Store following reports of criminal activity on the platform.
Huione App Removal from Play Store
Huione Guarantee, described by Elliptic as the biggest illicit marketplace, was delisted from the Google Play Store due to allegations of money laundering and illegal operations. However, the app remains available on Apple's App Store.
Operations and Repeated Warnings
Huione Guarantee is known as a Telegram-based trading venue used by cybercriminals and hackers. According to Elliptic, the marketplace regularly facilitates illicit practices, including money laundering and the sale of personal data. Vendors on the platform reportedly offer tools and training to execute fraud and scams.
Conflicts and USDH Stablecoin Launch
The platform recently launched its stablecoin, USDH, seemingly in response to Tether’s freezing of a USDT account linked to North Korean hacker group Lazarus. On-chain analytics startup Bitrace flagged 29.62 million locked USDT attributed to Huione Pay, an affiliate of the company. Following Elliptic’s latest report, Huione Guarantee rebranded to Haowang Guarantee.
The rebranding and introduction of Huione's stablecoin are attempts to steer clear of further negative coverage and law enforcement actions.
