Huione’s Darknet Empire Thrives Despite Shutdown Claims

Crypto News Exploits

Written by Aaron S.,

Editor-In-Chief

Last Updated: June 13, 2025

Key Takeaways

Chainalysis found that Huione Group's black-market network remains active despite claims of a shutdown;
Crypto transactions continued, and even grew, after Huione lost access to US dollar systems;
Huione Group’s crypto exchange is back online with a new domain and active Telegram presence.

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Huione’s Darknet Empire Thrives Despite Shutdown Claims

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A report from Chainalysis published on June 12 showed that the black-market trading network tied to Huione Group is still running, despite claims that it had shut down.

According to Chainalysis, blockchain data suggested that the marketplace is still processing large amounts of cryptocurrency.

Huione Group, a company based in Cambodia, manages several connected businesses. These include the Huione Pay payment service, the Huione Crypto exchange, and Haowang Guarantee.

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Chainalysis described the operation as being able to function without relying on public websites or messaging apps. Even after the main channels were taken down, money continued to flow.

US banks usually cut off access right away when a company is flagged by regulators. This often makes it hard to operate in US dollars.

Chainalysis believes that Huione Group likely lost this access after being named in a FinCEN notice. Still, the company’s data shows that this had little to no effect on how the network operates. In fact, the transaction volume actually increased after the notice.

The report also noted that Huione Group’s crypto exchange has come back online under a new web address.

It still uses the same logo and appears to be active. The exchange and related services continue to post updates across various platforms, including Telegram.

Meanwhile, ThreatFabric’s Mobile Threat Intelligence team recently reported that the Android malware Crocodilus has been targeting banking and cryptocurrency users across multiple regions. How does it work? Read the full story.