Huione Guarantee

Jul 11, 2024 1 min read
Huione Guarantee

Huione Guarantee, a platform linked to the Cambodian ruling family, has become a primary marketplace for facilitating pig butchering scams, where tens of billions of dollars are stolen annually through crypto schemes. This platform provides escrow services for peer-to-peer transactions involving cryptocurrency Tether, which ensures a reliable trade between parties without fraud. Research by Elliptic revealed $11 billion in total transactions since its inception, $3.4 billion of which occurred this year. These transactions largely support pig butchering scams, contributing to the forced-labor crypto scam industry. Victims are deceived into purchasing and transferring cryptocurrency, often within manipulated labor environments across Southeast Asia.

Source: https://www.wired.com/story/pig-butchering-scam-crypto-huione-guarantee/

"id": "fin634071124",
"linkid": "financefeeds",
"type": "Cyber Attack",
"date": "7/2024",
"severity": "100",
"impact": "6",
"explanation": "Attack threatening the economy of geographical region"

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