The United Nations has reported a rise in criminal gang activities in Southeast Asia, with a staggering 37 billion USD lost to cyber fraud in 2023, largely linked to cryptocurrency scams. Criminals are increasingly leveraging digital assets to operate beyond government reach.
Criminal networks are adapting by utilizing technologies such as Starlink to bypass restrictions and diversifying their operations. Notably, platforms like Huione Guarantee, now Haowang, facilitate these scams by launching US dollar-backed stablecoins that aid in evading regulatory controls.
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