Tether Enables Illicit Activities in Cambodia's Cryptocurrency Underworld
• Tether coin has become the crypto of choice for Chinese-linked illicit activities in Cambodia's vast dark economy, with over $200M recently frozen related to cyber scams.
• Tether enables daily workarounds to China's currency controls for Phnom Penh's Chinese community, but its reach into money laundering and scams is under scrutiny.
• Cryptocurrency platforms like Huione host networks used to sell stolen personal data and enable online scams that target victims globally.
• Southeast Asia has the "perfect conditions" for cross-border financial crimes using cryptocurrency, especially Tether on the TRON platform.
• Tether's integration into Cambodia's multibillion-dollar cyber scam and casino industries makes tracking illicit flows nearly impossible.