In the evolving landscape of cybercrime, platforms like Huione Guarantee have emerged as central hubs for facilitating online scams, particularly in Southeast Asia. Established in 2021, Huione Guarantee has rapidly expanded its services, becoming a significant player in the cyber scam ecosystem. Recent investigations reveal that the platform has facilitated approximately $24 billion in transactions, marking a 51% increase since mid-2024.
Huione Guarantee operates primarily through Telegram, offering a range of services tailored to scammers’ needs. These include deposit and escrow services, victim contact details, deepfake tools, and fake investment websites. The platform’s rapid growth aligns with the surge of “pig butchering” scams in Southeast Asia, where victims are deceived into investing in fraudulent schemes
To enhance self-sufficiency and evade potential crackdowns, Huione Guarantee has introduced its own messaging app, cryptocurrency exchange, and a USD-backed stablecoin, USDH. These additions aim to create a closed ecosystem, reducing reliance on external services like Tether and Telegram. Despite these developments, the platform continues to depend on these external services, presenting potential intervention points for authorities.
Investigations have uncovered connections between Huione Guarantee and businesses associated with Cambodia’s ruling family. The platform is operated by Huione Group, a conglomerate with ties to the Cambodian elite. Notably, one of the directors of Huione Pay, a subsidiary of the group, is allegedly Hun To, a cousin of Cambodian Prime Minister Hun Manet. Hun To has faced allegations of heroin trafficking and money laundering by Australian authorities and is linked to organized crime in China.
Beyond financial crimes, Huione Guarantee has been linked to severe human rights abuses. Scam compounds, primarily in Myanmar, Laos, and Cambodia, resemble prisons where trafficked workers from China, Vietnam, and the Philippines are forced to perpetrate scams under harsh conditions. These workers are often subjected to torture, and some have reportedly resorted to suicide. Advertisements on Huione for equipment used to control and punish these workers, including electric batons and electronic shackles, have been identified.
The expansion of Huione Guarantee appears to be a strategy to evade law enforcement and technological crackdowns. However, its continued dependence on centralized infrastructures suggests that timely action by service providers could suppress its operations before it achieves full autonomy. Disrupting Huione Guarantee could significantly impact the online scam ecosystem, benefiting current and potential victims.
