PUBLISHED : 18 Jun 2025 at 03:30
The Cyber Crime Investigation Bureau (CCIB) has discovered a digital currency exchange firm in Cambodia with links to online gambling websites and scam networks.
Pol Lt Gen Trairong Phiewphan, chief of the CCIB, stated yesterday that the Cambodia-based Huione Group is suspected of being involved in fund transactions from online gambling websites and scam networks targeting Thais.
Criminals would transfer funds stolen from victims’ bank accounts to various mule accounts before converting them into cryptocurrency.
The digital currency would then be converted back to cash or used to purchase assets.
Pol Lt Gen Trairong said the Huione Group is located in a border area, which is a hotspot for scammers.
Many cases related to online gambling websites and scam networks were found to have links with this company, even though the firm is legitimate, he said.
The CCIB has not confirmed whether the company is linked to the Hun family.
Pol Lt Gen Trairong urged the public to be cautious when following or sharing information online, especially given Thai-Cambodian tensions.
The US Treasury’s Financial Crimes Enforcement Network (FinCEN) said in May that “Huione Group serves as a critical node … for transnational criminal organizations (TCOs) in Southeast Asia perpetrating convertible virtual currency (CVC) investment scams, which are commonly known as “pig butchering” scams.
