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.

Quotes that support claims

US authorities believe the group operates a network of companies that serve different roles in its laundering operations. These include Huione Pay, a fiat payment processor; Huione Crypto, a virtual asset service; and Haowang Guarantee, a marketplace dealing in illegal goods and services.

This network offers services ranging from an online marketplace selling items useful for carrying out cyber scams, to payment services in fiat currency and CVC frequently used for money laundering.