Loading article…
SlowMist’s on‑chain report shows HuionePay moved over $100 billion in USDT on TRON between Jan 2024‑Jun 2025, sparking regulatory warnings and concerns over
SlowMist’s latest on‑chain analysis reveals that HuionePay processed more than $100 billion in USDT on the TRON blockchain from Jan 1 2024 through Jun 23 2025, split evenly between deposits and withdrawals [1]. The Telegram‑based payment hub, part of Cambodia‑based Huione Group, saw daily withdrawal spikes of up to 150,000 transactions and two peaks where outflows topped 1.1 billion USDT each in March and May 2025 [1].
The firm traced the activity with its MistTrack AML tool and a custom Dune dashboard, noting that active deposit addresses rose from under 30,000 in early 2024 to more than 80,000 by mid‑2025 [1]. Such rapid growth, combined with lax KYC/KYT controls, has drawn the platform into the crosshairs of regulators. In October 2025, the U.S. Treasury’s OFAC, FinCEN, and the U.K. FCDO designated Huione Group as a primary money‑laundering concern, effectively cutting it off from the U.S. financial system [2].
The report also highlights a prior freeze by Tether in July 2024, when 29.62 million USDT was locked in a HuionePay address after the funds were linked to thefts from exchanges such as DMM and Poloniex [1]. That freeze represented roughly three‑quarters of the platform’s reserves at the time and prompted HuionePay to issue a notice distancing itself from serious crimes [1]. Yet the platform’s continued high‑frequency withdrawals and its Telegram marketplace, HuioneGuarantee, which allegedly processed $24 billion in illicit “pig‑butchering” scams, suggest that the freeze did little to curb misuse [1].
SlowMist warns that the sheer volume of USDT moving through HuionePay creates a fertile ground for fraud, black‑market trades, and cross‑border money laundering. The firm urges exchanges, enterprises, and regulators to adopt real‑time monitoring tools like MistTrack to spot risky patterns early [1]. As blockchain hacks in 2024 alone cost $2.013 billion, with only 8.25 % recovered, the need for robust on‑chain surveillance grows more urgent [1].
If HuionePay’s USDT flows continue unchecked, the platform could become a de‑facto conduit for illicit finance, testing the limits of current AML frameworks. The open question remains whether heightened regulatory pressure and new compliance tools will be enough to curb the platform’s risky behavior or if further sanctions will be required.
Coverage is mostly measured — 130 of 189 reports stay neutral.
Every Monday — the token unlocks, Fed dates & catalysts set to move crypto and markets this week. So you’re never blindsided.
Free · 3-min read · one-click unsubscribe
AI-assisted synthesis by the TrendWatcher Editorial Desk · sourced from 2 outlets · Jun 16, 2026 · How we report
Selling by long-term holders is often interpreted as a sign of broken conviction, suggesting that the market participants with the most patience are losing confidence in the asset.
HODL waves track the age distribution of coins, where older age bands indicate strong holding conviction and younger bands reflect increased speculative activity or wealth transfer.
TVL measures the dollar value of assets deposited in network protocols, helping analysts determine if liquidity is actually leaving an ecosystem or if price declines are solely due to market valuation shifts.