• 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

Pyth Network's Oracle Service Boosts Adoption and Price

chest

Pyth Network's oracle service has significantly boosted adoption and price, providing critical on-chain data for the US Department of Commerce.

user avatarLeo van der Veen

Wietse Wind Issues Scam Alert to XRP Community

chest

Wietse Wind warns the XRP community about a surge in scam activities, including fake accounts and phishing attempts.

user avatarKaterina Papadopoulou

Bybit Pay Integrates with Yape and Plin to Enhance Crypto Payments in Peru

chest

Bybit has launched Bybit Pay in Peru, integrating with Yape and Plin to facilitate cryptocurrency payments.

user avatarMaya Lundqvist

How to Build an Effective Compliance Reporting System in Crypto

chest

The article provides practical recommendations for crypto institutions to build an efficient compliance reporting system.

user avatarAisha Farooq

Clarifying STR and SAR: Key Compliance Terms in Crypto

chest

The article clarifies the differences between STR and SAR, emphasizing their distinct focuses in compliance reporting.

user avatarLi Weicheng

US Expands Travel Restrictions to 39 Countries

chest

The US State Department announced new visa suspensions affecting 39 countries, effective January 1, to address security concerns.

user avatarTenzin Dorje

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.