HuionePay illegally processed $55 billion worth of transactions. Full on-chain analysis
A unit of the sanctioned Huione Group created an extensive network of addresses that were used to receive and send cryptocurrency
25.06.2025
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4 min
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HuionePay, a subsidiary of Cambodia’s Huione Group, has been hit with international sanctions for conducting illegal transactions and complicity in money laundering. GetBlock AML Research publishes on-chain statistics of the payment service.
Starting point
Between January 1, 2024, and June 23, 2025, HuionePay addresses accepted $54,4 billion in deposits and sent $57,2 billion to other wallets.
Transaction data for the past month shows that the volume of transactions has decreased, but has not stopped. This indicates that the organization continues to operate despite restrictive measures from US law enforcement.
Transaction volume chart. Data: SlowMist
Huione Group strikes back. US authorities are left with nothing
FinCEN tried to shut down a Cambodian company involved in money laundering, but it failed
The chart shows that transaction volumes peak on July 8, 2024 (over $1 billion), and March and May 2025 (nearly $1,1 billion).
Active addresses
|
HuionePay’s largest withdrawal addresses |
|
|
Address |
Processed |
|
$816 million |
|
|
$580 million |
|
|
$512 million |
|
Address #1 (TWS84SZ2GE2EgyZDCrfVuEJXpoXYuBxteS) has actively interacted with other HuionePay hot wallets and also has links to sanctioned and criminal addresses (e.g., BingX hackers).
The link graph of address TWS84SZ2GE2EgyZDCrfVuEJXpoXYuBxteS
Address #2 (T9yFi9yxwBUjMbHwBFKDdwFdwFdBwvzUAqBfR) was allegedly controlled by the Huione Guarantee platform.
Address #3 (TTSSC4TEYtQMAMURND6i1FPYaaBJMGY4ed) was used to interact with centralized exchanges (Binance, OKX, Gate, Huobi, and others).
HuionePay’s largest addresses for accepting payments | |
Address | Processed |
$1,66 billion | |
$449 million | |
$436 million | |
HuionePay user activity
The peak of withdrawal activity from HuionePay wallets is between 01:00 and 16:00 UTC (the highest activity was observed between 07:00 and 13:00 UTC). Acceptance of payments to HuionePay addresses was mainly from 03:00 to 10:00 UTC.
Withdrawal activity from HuionePay addresses
Activity of accepting funds to HuionePay addresses
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