Huione Guarantee Sees Explosive Growth and International Measures Against North Korean Hackers

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by Giorgi Kostiuk

2 years ago

Huione Guarantee witnessed a significant surge in activity, driven by the launch of its USDH stablecoin. Meanwhile, international entities are expressing concerns over threats from North Korean hackers, and significant political events are unfolding in South Korea and the UK.

Explosive Growth of Huione Guarantee

Huione Guarantee, described by Elliptic as the largest online illicit marketplace, saw its monthly inflows increase by 51% over six months. This growth was fueled by the launch of its USD-backed stablecoin USDH. The platform facilitated over $24 billion in transactions, attracting more than 900,000 users.

Huione Guarantee serves as a hub for illicit activities, including money laundering and cyber scams.

Warnings About North Korean Hackers

The United States, Japan, and South Korea issued a joint warning about the growing threat from North Korean hackers such as the Lazarus Group. These groups are responsible for over $1.34 billion in cryptocurrency theft in 2024, escalating the severity of cyber threats globally.

Events in South Korea and the UK

South Korean authorities arrested the impeached president Yoon Suk Yeol following his martial law declaration. In the UK, a proposal to ban ransomware payments for critical sectors aims to curb rising cybercrime.

Despite accusations of illegal activities, Huione Guarantee continues its growth. North Korean hackers pose a major global threat, prompting nations to strengthen their cybersecurity measures.

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