The FBI and DOJ announced earlier this month the seizure of a cloud computing account used by subsidiaries of the Cambodia-based Huione Group. These subsidiaries are alleged to have assisted individuals and organizations who move proceeds of cryptocurrency investment frauds, cyber scams, and other criminal activities across cryptocurrency blockchains and to convert those illicit gains into the legitimate banking system undetected. Law enforcement traced cyber-enabled fraud proceeds to cryptocurrency addresses attributed to the Huione Group, where the funds were then laundered further.
This action is part of Operation Riptide, an ongoing FBI campaign targeting the criminal actors, infrastructure, and financial networks behind cybercrime, cyber-enabled crime, and fraud against the American people.
Read more about the FBI investigation: https://lnkd.in/eaazfjXd
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