TechFlow news — On January 14, according to CoinDesk, blockchain security firm Elliptic reported that the illicit exchange platform Huione, which has facilitated around $24 billion in transactions, has launched its own stablecoin USDH and a messaging service. Previously relying primarily on USDT, Huione developed USDH to circumvent regulatory restrictions after Tether froze its accounts in July 2024 due to links with North Korea's Lazarus group. Elliptic's investigation indicates that the platform is connected to the Cambodia-based Huione Group and involved in illegal activities including money laundering, fraud, and human trafficking, including forced cyber-scam operations at the Golden Fortune Technology Park.
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