Huione Guarantee is a Cambodian online platform implicated in facilitating financial transactions for the 'pig butchering' crypto scam, which has stolen billions of dollars worldwide. Through an escrow service for peer-to-peer transactions via Tether on Telegram, Huione Guarantee has managed $11 billion in transactions, fueling a criminal industry that includes money laundering and coercion. Linked to the Cambodian ruling family, the platform is a critical nexus for scammers to trade tools and services, implicating it in a broader issue of human trafficking for forced scam operations.
Source: https://www.wired.com/story/pig-butchering-scam-crypto-huione-guarantee/
TPRM report: https://scoringcyber.rankiteo.com/company/financefeeds
"id": "fin000071224",
"linkid": "financefeeds",
"type": "Breach",
"date": "7/2024",
"severity": "100",
"impact": "6",
"explanation": "Attack threatening the economy of geographical region"{'affected_entities': [{'industry': 'Financial Services',
'location': 'Cambodia',
'name': 'Huione Guarantee',
'type': 'Online Platform'}],
'attack_vector': ['Escrow Service', 'Peer-to-peer Transactions'],
'description': 'Huione Guarantee, a Cambodian online platform, has been '
'implicated in facilitating financial transactions for the '
"'pig butchering' crypto scam, which has stolen billions of "
'dollars worldwide. Through an escrow service for peer-to-peer '
'transactions via Tether on Telegram, Huione Guarantee has '
'managed $11 billion in transactions, fueling a criminal '
'industry that includes money laundering and coercion. Linked '
'to the Cambodian ruling family, the platform is a critical '
'nexus for scammers to trade tools and services, implicating '
'it in a broader issue of human trafficking for forced scam '
'operations.',
'impact': {'financial_loss': 'Billions of dollars'},
'motivation': ['Financial Gain', 'Money Laundering', 'Coercion'],
'threat_actor': ['Scammers'],
'title': "Huione Guarantee Involvement in 'Pig Butchering' Crypto Scam",
'type': 'Financial Fraud'}