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Elliptic Intelligence Used by the FBI in Action Against Huione, the $134 Billion Criminal Marketplace and Money Laundering Operation

By: Business Wire

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Elliptic, the global leader in digital asset decisioning, today announced that its intelligence was used by the Federal Bureau of Investigation in today’s action against the operators of Huione Group. The Justice Department announced the seizure of a cloud computing account used by subsidiaries of the Huione Group, a Cambodia-based corporate conglomerate.

First exposed by Elliptic in July 2024, Huione Guarantee was a Telegram-based marketplace serving online fraudsters across Southeast Asia. Merchants sold money laundering services, stolen personal data, websites and other goods and services necessary to perpetrate so-called “pig-butchering” scams and other online fraud., By the time Huione was forced offline, it had received more than $31 billion in cryptoasset transactions, making it the largest illicit online marketplace ever recorded, more than 25 times larger than Silk Road and AlphaBay combined.

Huione Group’s payments arm, Huione Pay, was also implicated in the laundering of proceeds of online scams. Huione Pay received at least $103 billion in cryptoasset payments over its lifetime and ran physical outlets across Cambodia.

This FBI action is the latest in a series of enforcement outcomes against online scam infrastructure and Chinese money laundering organizations built on Elliptic’s intelligence, which also contributed to Telegram’s shutdown of Huione Guarantee in May 2025, the US Treasury’s FinCEN designation of Huione Group as a primary money laundering concern, and UK sanctions against Xinbi.

Simone Maini, CEO of Elliptic, said: “Huione was the largest illicit marketplace the world has ever seen. Elliptic’s data made the marketplace visible. Tracing the vast network behind it took years of intelligence work. This moment shows what the public and private sectors can achieve when they work together. These networks will keep adapting, and so will we.”

About Elliptic

Elliptic is the leader in digital asset decisioning, we have built the most comprehensive platform for efficiently extracting cryptoasset data and intelligence across blockchains with the greatest accuracy.

Our platform’s unrivalled uptime, scalability, depth and breadth of our data and intelligence means exacting organizations choose Elliptic for their compliance, risk management, intelligence operations and blockchain infrastructure needs.

Founded in 2013, Elliptic is headquartered in London with offices in New York, Washington D.C., Miami, Dubai, Hong Kong, Singapore and Tokyo. To learn more, visit www.elliptic.co and follow us on LinkedIn and X.

Contact

Rachel Matthews
Global Marketing and Communications Director, Elliptic
rachel.matthews@elliptic.co