Huione Guarantee is implicated in facilitating a vast volume of transactions related to 'pig butchering' scams, totaling $11 billion since its inception. With significant ties to the Cambodian ruling family, the online platform acts as a guarantor for crypto trades, which essentially supports a criminal industry that utilizes human trafficking for scam operations. The platform’s services include securing transactions and providing money laundering. These activities have contributed to substantial financial damage, not only robbing victims of billions of dollars but also perpetuating human rights abuses against those coerced into scamming others.
Source: https://www.wired.com/story/pig-butchering-scam-crypto-huione-guarantee/
"id": "fin000071424",
"linkid": "financefeeds",
"type": "Ransomware",
"date": "7/2024",
"severity": "100",
"impact": "5",
"explanation": "Attack threatening the organization’s existence"