Internet reports that the U.S. Treasury Department's Financial Crimes Enforcement Network (FinCEN) has proposed cutting off the Cambodia-based Huione Group from the U.S. financial system on the grounds that the organization provides support to criminal groups such as North Korean hackers. FinCEN stated that the Telegram-based operation is "a key node in the laundering of money from online robberies" and assists in "pig killing plate" fraud. "The Huione Group has become a preferred market for North Korea and criminal groups," Finance Minister Scott Bessent said. Elliptic estimates that Huione handled as much as $24 billion in such transactions.