• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M

How Huione Guarantee Became the Largest Online Market for Illegal Operations

user avatar

by Giorgi Kostiuk

a year ago

Huione Guarantee, dubbed as the 'largest illicit online marketplace', has seen a significant 51% growth over the past six months due to its September launch of a stablecoin USDH.

Launch of USD Stablecoin and Its Impact

Huione Guarantee's growth was significantly boosted by the September launch of its USDH stablecoin aimed at avoiding regulatory oversight. USDH was issued on multiple blockchains, including Ethereum, BNB Chain, and Tron.

Elliptic Investigation and Findings

Elliptic reported that monthly inflows increased by 51% and the user base has surpassed 900,000. The platform represents the largest illicit online marketplace, heavily contributing to money laundering operations in Southeast Asia.

"Perhaps no other single entity bears as much responsibility for the global cyber scam epidemic as Huione Guarantee."

Huione's Technological Developments

Huione launched its own blockchain Huione Chain and a decentralized exchange, alongside a messaging service, which reduces reliance on third-party apps like Telegram.

Huione Guarantee's latest advancements highlight rapid growth and technological innovation. However, the platform remains under scrutiny due to suspected involvement in illicit activities.

0

Rewards

chest
chest
chest
chest

More rewards

Discover enhanced rewards on our social media.

chest

Other news

MoneyGram Launches MGUSD, Its Own US Dollar Stablecoin

chest

MoneyGram has introduced MGUSD, a native US dollar stablecoin, marking a significant shift in its digital currency strategy.

user avatarAyman Ben Youssef

Robinhood Expands into Canada with WonderFi Acquisition

chest

Robinhood Markets has officially entered the Canadian market by acquiring WonderFi, enhancing its customer base and surpassing 1 million international funded customers.

user avatarTando Nkube

Traders Bet on XRP Price Increase Amid Open Interest Rise

chest

Traders are increasingly betting on XRP's price rising, as indicated by the LongShort Ratio on Coinglass, which shows that 51.58% of volume is in favor of price rising longs.

user avatarKofi Adjeman

XRP Open Interest Shows Signs of Recovery

chest

The XRP open interest is experiencing a steady uptrend, indicating a potential bullish shift in the market.

user avatarNguyen Van Long

New Editorial Guidelines Seek to Enhance Quality Standards.

chest

A new editorial policy has been established to enhance the quality of content, focusing on accuracy, relevance, and impartiality.

user avatarSatoshi Nakamura

Analyst Predicts Increased Competition for Decentralized Exchanges

chest

Analyst Zero Kyle predicts that Binance's new trading service may increase competition for decentralized exchanges like Hyperliquid.

user avatarJesper Sørensen

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.