• 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

2 years 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

Congress Proposes AI Kill Switch Legislation

chest

Congress members propose the AI Kill Switch Act to give the federal government authority to shut down AI models.

user avatarEmily Carter

Frax Governance Discusses Proposal for Early Redemptions from Locked Ethereum Pools

chest

Frax governance is discussing a proposal for early redemptions from locked Ethereum pools with a 4% penalty fee directed to the Frax treasury.

user avatarTomas Novak

Frax Governance Proposes Morpho Lending Market for bdUSD and frxUSD

chest

Frax governance is discussing a proposal to create a Morpho lending market for bdUSD and frxUSD to enhance stablecoin liquidity and borrowing demand.

user avatarKaterina Papadopoulou

EigenLayers Forum Engages in ELIP018 Proposal Discussion

chest

The EigenLayers forum is currently engaged in a debate over the draft proposal ELIP018, which introduces a framework known as RETIRE, aimed at providing a terminal exit route for restakers.

user avatarMaya Lundqvist

Uniswap Governance Explores Private Execution Path for Swaps

chest

Uniswap governance is discussing a proposal for an optional private execution path for swaps to enhance user privacy and reduce transaction information exposure.

user avatarLeo van der Veen

Kraken Introduces USDT0 Support on Tempo Network

chest

Kraken has introduced support for USDT0 deposits and withdrawals on the Tempo network, enhancing stablecoin liquidity movement.

user avatarLi Weicheng

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.