Thursday, July 2, 2026
Volume:
42
Issue:
8
Abstract:
On June 23, 2026, the Justice Department seized a cloud computing account that hosted the backend structure for subsidiaries of the Huione Group. The subsidiaries are alleged to have assisted transfer of funds from “cryptocurrency investment frauds, cyber scams, and other criminal activities on cryptocurrency blockchains” and enabling the “conversion of the proceeds of these schemes to the legitimate banking sector undetected.”