The U.S. Department of Justice has seized accounts linked to Huiwang, alleging that the entity assisted in laundering billions of dollars in crypto fraud funds.

The U.S. Department of Justice (DOJ) announced Tuesday that it has seized cloud computing accounts belonging to a subsidiary of Cambodia-based Huiwang. The DOJ labeled Huiwang as “one of the world’s most prolific criminal marketplaces,” accusing it of facilitating the laundering of billions of dollars in proceeds from crypto investment fraud and cyber scams. The agency said the accounts provided technical support for Huiwang’s operations, enabling criminals to transfer, move and hide funds, and convert funds into the banking system undetected. Assistant Attorney General A. Tysen Duva of the DOJ’s Criminal Division noted that the seizure targets a technical backbone that allowed billions in fraudulent proceeds to be moved and hidden, with a large portion of the funds coming from scam hubs in Southeast Asia. Court documents show the accounts helped operate Huiwang Guarantee, a Telegram-based marketplace where sellers trade stolen bank card and identity data, malware proceeds, and money laundering services for romance scams and investment fraud. The platform also offers escrow services to help criminals, including money launderers, conduct cryptocurrency transactions.