A Cambodia-based gang with ties to North Korea has “stolen” billions of dollars from Americans through romance scams and other cyber-heists since August 2021, federal officials said Thursday in announcing a crackdown on the malign network.
For years, the online marketplace Huione Group has helped North Korea and other transnational criminal gangs rip people off by sending texts or direct messages on social media platforms and sites to bilk them for fake investments or “pig butchering.”
The cons, which also take place on dating or professional networking sites, have gotten US retirees and others to invest in crypto or other virtual currencies — before eventually defrauding them.
Between August 2021 and January 2025, Huione raked in at least $4 billion in proceeds from the romance and investment racket, with affiliates helping facilitate payments (Huione Pay PLC), provide fiat currencies (Huione Crypto), and furnish an online marketplace with illicit goods and services (Haowang Guarantee).
The US Treasury Department’s Financial Crimes Enforcement Network (FinCEN) shared the findings of its investigation into the Huione’s scam network exclusively with The Post, tallying up $37 million that went toward North Korean cyber heists and another $336 million in the romance and investments grift.
Now, the Treasury is taking action by proposing a federal rule to sever the Cambodian firm’s access to the US financial system.
Hellbound and Down 