U.S. Treasury Sanctions Huione Group, FBI Seizes Crypto Infrastructure Linked to $70B Scam Operation

According to OFAC and the FBI, the U.S. Treasury took action against Huione Group on Tuesday, designating 26 entities and nine individuals linked to the Prince Group, a transnational criminal organization targeting Americans with pig butchering romance scams. The Office of Foreign Assets Control prohibited U.S. financial institutions from opening or maintaining correspondent accounts for Huione Group.

The FBI seized Huione's cloud computing infrastructure used to support the operation. According to Chainalysis, Huione Guarantee processed over $70 billion in cryptocurrency over the past five years, laundering proceeds for the Prince Group.