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In Cambodia, the businessman Hun To, cousin of the Prime Minister Hun Manetadmitted to having held 30% shares of HUIONE PAY PLC, an entity of the Huione group accused by the United States of whitening of money fromonline scamsThis group, based in Phnom Penh and active in the e-commerce, the exchanges of cryptocurrencies and the payments, sees its former president Li Xiong extradited to China, his licenses revoked, and hundreds of users demanding the unlocking of their accounts on H-Payrevealing how much the country has become a stronghold of the cybercrimeHun To, however, maintains that he did not manage the operations nor receive any profits, even though the company was liquidated in October 2025 — a story that reads like a financial thriller where frozen accounts serve as plot twists.
Summary The Cambodian businessman Hun To admitted to having detained 30% shares in a financial company linked to online scams, the infamous HUIONE PAY PLCThe company, now in liquidation, is accused by Washington of having served the whitening of funds from online scams benefiting the North Korea and to criminal networks in Southeast Asia. While thousands of users are demanding the unlocking of their accounts, Cambodian authorities are facing increasing international pressure to clean up this sector.
The announcement caused quite a stir: Hun To, related to the ruling family — cousin of the Prime Minister Hun Manet and nephew of the former influential leader Hun Sen — confirmed he was in possession 30% shares in a company belonging to the Huione group. Its public clarification attempts to separate ownership and management, but the saga raises questions about the links between power, money and illicit activities in the capital.
What Hun To said
In a statement relayed by the press, Hun To stated that he had never managed the company’s operations and had “never received any profits, dividends or assets” from it. HUIONE PAY PLCHis statement aims to reassure, but it does not quell the questions: being a shareholder to the tune of 30% raises legal and political issues that the public and the international community are closely scrutinizing.
Huione’s role and international accusations
The group Huione, based in Phnom Penh, consisted of several entities active in the e-commerce, L’cryptocurrency exchange and payment services, including the platform known as Huione Pay (later became H-Pay). Last year, the United States accused the group of participating in operations of money laundering for online scams benefiting North Korean networks and regional criminal groups. An online article summarizes this case well: BFM TV.
Extradition and liquidation
According to a liquidation report, the majority stake in the group was held by Li Xiong (approximately 62%He was extradited from Cambodia to China on April 1st, with Chinese authorities suspecting him of being at the center of a vast fraud and gambling network. The liquidation proceedings for Huione concluded in October 2025, officially ending the entrepreneurial venture but leaving victims without answers. For more details on the legal proceedings and timeline: International Mail.
Victims and anger in Phnom Penh
Since December, thousands of users say they have been denied access to their accounts on H-Pay and are demonstrating in Phnom Penh to demand the release of their funds. The situation has fueled public anger: impossible withdrawals, frozen savings, and growing distrust of local fintech platforms. Reports and investigations have detailed these complaints and the mobilization of users, as reported by Justice for Cambodia.
Measures taken by Cambodian authorities
In the face of the scandal, the National Bank of Cambodia announced the revocation of the commercial licenses of platforms belonging to the Huione group, a move aimed at limiting the damage and restoring confidence. But observers note that these decisions come after years of criticism that the authorities turned a blind eye to these lucrative but illegal activities.
Cambodia, a new stronghold of cybercrime
The kingdom has been accused for several years of having become a cybercrime stronghold Networks attract, sometimes under duress, individuals who perpetrate scams targeting internet users worldwide—fake romances, bogus cryptocurrency investments, fake job offers. The human consequences are severe, and the financial scale is colossal. An international investigation has highlighted these abuses, and related cases have been uncovered elsewhere in the region, such as the arrest in Thailand linked to a massive fraud targeting American citizens (Southeast Asia).
Political and geopolitical issues
The revelation of a link between a member of the political family and a company under investigation has increased international attention on Cambodia. Pressure from the China Other countries have pressured Phnom Penh to act; however, some have criticized the timing and transparency of these measures. The media have extensively covered the affair, offering different perspectives on the responsibilities and implications for the citizen-state: Presstitles And The Essentials publish reports on these shady connections.
What remains to be resolved?
The exposure of the financial involvement of someone close to the government in a group linked to cyber scams This opens up a long list of questions: legal proceedings, compensation for victims, tracing financial flows, and regulatory reforms to prevent the recurrence of such schemes. Several international investigations and proceedings are still underway, and the legal saga could continue for some time.
FAQ — In Cambodia, the Prime Minister’s cousin owned 30% of a company linked to cyber scams
Q: What is this case about in a few words?
A: This is a revelation according to which Hun To, a Cambodian businessman and relative of the Prime Minister, detained 30% shares of a company in the group Huione – notably Huione Pay — implicated for money laundering linked to online scams.
Q: Who exactly is Hun To And what did he say?
A: Hun To is the cousin of Prime Minister Hun Manet and the nephew of former leader Hun Sen. He issued a statement claiming to have possessed 30% shares of HUIONE PAY PLCbut that he “never received any profits, dividends or assets” and that he did not manage the business operations.
Q: What is the group Huione And what activities did he carry out?
A: The group, based in Phnom Penh, included several entities offering services of e-commerce, ofcryptocurrency exchange and of paymentThese platforms were used for online transactions and, according to the accusations, were used to conceal the proceeds of scams.
Q: What are the accusations made by the United States?
A: US authorities have accused the group of having laundered money originating from online scams, particularly benefiting the North Korea and criminal networksSoutheast Asia.
Q: Who is Li Xiong And what is his situation?
A: Li Xiong was the chairman of the group and, according to a liquidation report, held approximately 62% shares. He was extradited from Cambodia to China on April 1, where authorities suspect him of having run a vast gambling and fraud network.
Q: What is the legal status of the company?
A: The company was subject to a procedure of liquidation which was finalized in October 2025. Meanwhile, the National Bank of Cambodia indicated that the group’s commercial platforms’ licenses had been revoked.
Q: Why are there protests in Phnom Penh?
A: Protesters have been demanding for weeks that their accounts on the platform be unblocked. H-Pay (formerly Huione Pay), which they say have been inaccessible since December. Many feel they have been deprived of funds and are demanding answers and the return of their assets.
Q: Has Cambodia become a hub for cybercrime?
A: In recent years, the country has become a new stronghold for online scam networks—activities ranging from fake romances to bogus cryptocurrency investments. Some people are forced to work there under duress, but authorities now say they are taking a firmer stance under international pressure, particularly from China.
Q: What can I do to protect myself against these types of online scams?
A: Some best practices: verify the authenticity of platforms before any transfer, enable two-factor authentication, avoid sending money to people you met online, be wary of investment offers that seem too good to be true, monitor your bank statements, and report any suspicious transactions to local authorities. Keep evidence (screenshots, email exchanges) in case you need to file a complaint.
Q: What can victims do to recover their money or get answers?
A: Victims should contact their banks to block compromised cards or accounts, file a complaint with national authorities, gather all possible evidence, and, if necessary, seek the assistance of specialized legal counsel. Demonstrations at Phnom Penh They also show that public pressure is one of the levers used to obtain claims.