Cambodian online platform linked to ruling family allegedly enabled $11 billion worth of crypto scams

According to a report by Wired and crypto-tracing firm Elliptic, Huione Guarantee, an online financial platform linked to Cambodia's ruling family, has enabled scams worth $11 billion and paid for in cryptocurrency. The platform offers services such as deepfake production, money laundering, and "pig butchering" scams, where victims are financially drained by their apparent admirers. The platform primarily transacts using USDT, the world's largest stablecoin, which can be traced over the blockchain. Huione Guarantee is part of the Huione Group, a Cambodian conglomerate with links to Cambodia's ruling Hun family, including the prime minister.