Laundering methods, infrastructure, and external findings

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Huione Group developed its own stablecoin, USDH, which FinCEN says is censorship-resistant and facilitates laundering by bypassing seizure controls.
Huione Group has been accused by FinCen in May 2025 of laundering more than $4 billion between August 2021 and January 2025, including tens of millions tied to North Korea and online fraud.
A UN Office on Drugs and Crime report described Huione’s Haowang marketplace as a comprehensive platform offering tools for cybercrime, supporting FinCEN’s enforcement rationale.
U.S. officials believe Huione Group operates a structured network of companies with distinct roles in its laundering system, including payments, crypto, and black-market operations.

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