A Bloomberg report reveals that wallets linked to Huione Group have processed over $11 billion in cryptocurrency transactions, surpassing the combined volume of platforms like Silk Road and Hydra.
Transaction Statistics of Huione
According to Bloomberg's report, Huione wallets processed significant amounts of crypto transactions. This figure exceeds $11 billion, highlighting this grouping against the backdrop of other platforms.
Comparison with Hydra and Silk Road
Silk Road was shut down in 2013 with a total volume of about $1.2 billion, while Hydra was taken offline in 2022, handling approximately $5.2 billion. With over $11 billion in transactions, Huione demonstrates how crypto-related crime has transitioned from the dark web to more public platforms.
Global Implications for Crypto Regulation
This revelation raises alarms for regulators and law enforcement. The scale of Huione's activity illustrates how easily financial services can be exploited in loosely regulated jurisdictions. Experts stress the need for stronger international cooperation and clear compliance frameworks to prevent such operations.
The volume of crypto transactions processed by Huione prompts significant discussions regarding the need for stricter oversight and compliance on a global scale.
