Crypto Hacker Launders $3 Million via Huione-linked OTCs

A crypto hacker has stolen $3 million in digital assets from a US citizen, primarily involving 1.2 million XRP coins. The funds were laundered through bridges and Over-the-Counter (OTC) venues linked to Huione. The incident highlights ongoing security challenges in the crypto space.

Details of the Hack

The stolen funds were traced by onchain investigator ZachXBT, confirming their movement through Ripple to Tron swaps before reaching Huione-linked OTCs.
Huione, based in Cambodia, has been previously associated with crypto hacks and money laundering activities.
Authorities in Cambodia have responded by blocking 102 websites implicated in cybercrime activities as of December last year.

Global Efforts Against Crypto Fraud

The United States recently filed a civil forfeiture complaint to seize 127,271 Bitcoin tied to Chinese businessman Chen Zhi, accused of a $14 billion fraud scheme.
This action represents one of the largest global efforts to address investment fraud in the cryptocurrency domain.