A report by blockchain security firm Elliptic reveals that Huione, a Telegram-based illicit marketplace, has launched its own stablecoin called USDH. The stablecoin aims to avoid the freezing and transfer restrictions often associated with traditional digital currencies. Prior to the launch of USDH, users on Huione predominantly used tether (USDT). Tether froze one of Huione Pay's accounts in 2024 due to funds linked to a theft attributed to North Korea's Lazarus Group. The report also highlights that Huione has facilitated $24 billion worth of transactions, including funds used in pig butchering scams. The marketplace offers various illicit services, including money laundering, stolen personal data, and technology for online fraud. Additionally, the report discovered electric shackles intended for human trafficking victims.



Other News from Today