Cambodian Authorities Tied to $4B Stablecoin Exploitation and U.S. Sanctions

According to Humanity Research Consultancy (HRC), Cambodian authorities have been connected to platforms like the Huiyon Group after they launched a stablecoin to process over $4 billion via the Telegram-based escrow service Huiyon Guarantee, which was used to bypass financial regulation. The U.S. Treasury Department has designated Huiyon as a "major money laundering concern" and suggested excluding it from the U.S. financial system.