• 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

3 months 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

Share

Other news

Stock Market Struggles and Their Impact on Ethereum Prices

Analyzing potential impacts of the stock market's weakness on Ethereum prices and key support levels.

user avatarGiorgi Kostiuk

3 minutes ago

RLUSD Empowers Ripple Payments, Expanding Global Reach

RLUSD integration into Ripple Payments accelerates cross-border transactions and strengthens market position.

user avatarGiorgi Kostiuk

4 minutes ago

How Russia Plans to Use Confiscated Bitcoins for State Revenue

The FSSP of Russia is developing a mechanism to convert confiscated bitcoins into state revenue, announced by Dmitry Aristov.

user avatarGiorgi Kostiuk

4 minutes ago

COTI: Fast and Secure Transaction Platform

COTI provides an efficient fintech platform focusing on transaction speed and security.

user avatarGiorgi Kostiuk

5 minutes ago

BYDFi 5th Anniversary: Innovation and Web3 in Focus

BYDFi celebrates its 5th anniversary: history of growth and Web3 adoption.

user avatarGiorgi Kostiuk

15 minutes ago

Ethereum Price May Drop Due to Weak Stock Market

Analyst Benjamin Cowen predicts Ethereum's price may decline owing to stock market weakness and macroeconomic factors.

user avatarGiorgi Kostiuk

15 minutes ago

dapp expert logo
© 2020-2025. DappExpert. All rights reserved.
© 2020-2025. DappExpert. All rights reserved.

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.