So, you thought Huione, the crypto laundering network, had finally kicked the bucket? Think again. Despite being designated a primary money laundering concern by FinCEN, and despite the supposed shutdown and removal of its website and Telegram channels, Huione is still going strong. In fact, its transaction volumes have actually increased. Go figure. 🤔
According to Chainalysis, the Chinese-language crypto laundering platform Huione has managed to defy all odds and continue operating at scale. This is FinCEN’s second use of Sections 311 and 9714 against crypto-related illicit finance, following the Bitzlato exchange. Section 311 is a handy tool that allows regulators to isolate bad actors quickly, without the need for court approval. However, it seems that Huione has found a way to keep the cash flowing, even after the May 1 announcement.
While U.S. banks typically cut ties immediately upon such announcements to avoid regulatory risk, this move seems to have had little to no impact on Huione’s operations. The platform has resurfaced under a new domain, Huione.me, complete with its old branding and active social media presence. Telegram channels are still buzzing with user engagement, and the platform continues to list its linked token XOC and stablecoin USDH for trading. It’s like a phoenix rising from the ashes, but with a bit more… illicit flair. 🌟
After Huione’s supposed shutdown, other guarantee services tried to fill the void, but none could match its scale or transaction volume. Platforms like Tudou Danbao saw temporary spikes in activity, but these were mere blips compared to Huione’s continued dominance. It appears that users have largely stayed within Huione’s network, suggesting a strong loyalty to the platform. Or perhaps they just really like the customer service. 🤷♀️
Chainalysis points out that Huione’s persistence highlights the limitations of fragmented enforcement. Disrupting networks like this requires coordinated, cross-border action and real-time intelligence sharing. Blockchain analytics will be crucial in closing the gaps that traditional methods can’t reach. But for now, it seems that Huione is here to stay, defying all attempts to shut it down. 🚀
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2025-06-13 15:58