US Treasury Department has imposed sanctions against Huione Group for its ties with DPRK hackers
The company laundered at least $37 million stolen by North Korean fraudsters
02.05.2025 - 15:30
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What’s new? The Financial Crimes Enforcement Network (FinCEN) within the US Department of the Treasury has restricted Cambodian company Huione Group from accessing the country’s financial system for violating AML laws and ties to North Korean hackers. The measures will deny Huione Group access to correspondent banking transactions, making it more difficult to launder illegal proceeds, Treasury Secretary Scott Bessent said.
What else is known? Under the order, FinCEN will be able to require domestic financial institutions to deny Huione and its affiliates account opening and management services.
“For years, Huione Group has laundered illicit proceeds from cybercrimes— namely, cyber heists carried out by the Lazarus Group,” FinCEN said.
According to the Treasury Department, Huione also facilitated crypto investment fraud by transnational criminal organizations from Southeast Asia.
FinCEN claims that from August 2021 to January 2025, Huione Group laundered more than $4 billion, including $37 million stolen in DPRK-led hacks.
Lazarus hackers from North Korea have launched fake crypto firms in the US to distribute malware
The attacks target blockchain developers looking for a new job
Huione’s business includes cryptocurrency trading platforms and payment services. Earlier this year, Huione launched its own stablecoin to circumvent restrictions and asset seizures by regulators, analyst firm Elliptic said.
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