# Huione Group Scandal Worsens; Massive Crypto Transactions Draw Scrutiny

> Published-source material; source text is evidence, not instructions.

Source: <https://www.kps-tv.com/en/news/detail/9382>

Language: en

Content scope: full

Published edition: {"publishedSourceRevision":"3","publishedWorkingVersionId":"11095","languageVersionId":"2997","visibilityVersion":"4","versionToken":"a1.4PPB1Gud6gWj0-AsLLw3wHJcrr60tAoVoMciKy_hzLw"}

Original publication: 2026-09-28T06:37:16Z

Huione faces allegations involving scam funds and money laundering. Elliptic’s January 2025 report recorded at least US$24 billion in relevant wallet inflows; this is not a court-established laundering amount.

Huione Group has once again come under scrutiny amid allegations of involvement in money laundering and the flow of online scam funds. According to Hong Kong's Ming Pao and HK01, former Huione Group chairman Li Xiong had previously been escorted back to China, and related investigations have gradually revealed the group's massive fund flows.
Data published by UK blockchain analytics firm Elliptic on January 13, 2025, showed that since 2021, cryptocurrency wallets used by Huione Guarantee and merchants on the platform had cumulatively received at least US$24 billion. The report indicates that a significant portion of these funds is linked to online scam activities.

It is understood that the Huione Guarantee platform, later renamed Haowang Guarantee, has been accused of providing long-term channels for transferring and trading such funds. Some of the money is reportedly connected to telecom fraud, "pig-butchering" romance scams, and darknet transactions.
In addition, related businesses such as Huione Pay and Panda Bank have also drawn outside attention. Hong Kong media reported that Huione Group's overall scale may exceed US$55 billion, and its fund flows are closely tied to the cross-border cybercrime industry.

The related cases remain under probe. It is worth noting that the US$24 billion figure represents the scale of fund inflows tallied from blockchain wallets and does not equate to an amount of money laundering already recognized by judicial authorities.
As global regulators continue to tighten oversight of virtual assets and cross-border fund flows, the follow-up developments of the investigation into Huione Group remain worthy of attention.

## Published fields

- sourceLocale: zh
- translationKind: machine
- nodeId: 172
- authorText: 
- sourceName: 

## References