Recent analyses indicate that Huione continues to engage in significant transactions despite international sanctions and cessation of operations.
FinCEN Sanctions Against Huione
On May 1, the Financial Crimes Enforcement Network (FinCEN) designated Huione as a primary money laundering concern under the PATRIOT Act. Following this, high activity in wallets associated with Huione underscores dubious financial operations.
Huione's Activities and New Platforms
According to Global Ledger, from May 1, wallets linked to Huione observed $10.13 billion in Tether transactions and other cryptocurrencies. Despite the bans, the platform continues to operate through several known subsidiaries, including Huione Pay and Huione Crypto.
Experts' Analysis on Huione's Shutdown
Experts are divided over the actual shutdown of Huione. Some indicate continued activity through new channels and platforms like Tudou, while others claim that Huione's core operations have virtually ceased.
Conclusions show that the shutdown of platforms like Huione rarely leads to a total reduction of their operations as they find new avenues to function.
