Blockchain Security Firm Reports Launch of Illicit Online Marketplace’s Stablecoin
Huione’s USDH Stablecoin Launched Without Regulatory Oversight
According to a report by blockchain security firm Elliptic, Huione, an online marketplace platform used for illicit activities, has launched USDH, a dollar-pegged stablecoin. Unlike traditional stablecoins like Tether’s USDT and Circle’s USDC, USDH is not subject to freezing or transfer limitations enforced by issuers. This lack of regulatory oversight makes USDH particularly appealing to bad actors.
Tether and Circle Take Action Against Illicit Activities
Notably, both Tether and Circle have previously taken action against wallets linked to illegal activities. For instance, Tether has frozen wallets associated with stolen funds from North Korea’s Lazarus Group, while Circle has disabled wallets holding USDC from various crypto hacks.
Huione’s Expansion Efforts
Huione continues to support USDT payments but promotes USDH as a safer alternative. The stablecoin is available on Ethereum, BSC, Tron, and Huione’s proprietary Xone chain. To broaden its offerings, Huione has introduced a crypto wallet and a decentralized exchange (DEX), and it previously attempted an initial coin offering (ICO) for its HC token.
USDH Availability and Features
USDH is available on multiple blockchains, including Ethereum, BSC, Tron, and Xone. Its features include:
- Decentralized exchange (DEX) support
- Crypto wallet integration
- Proprietary Xone chain support
Huione’s Partnerships and Services
Huione has partnered with various companies to offer a range of services, including:
- Crypto trading
- Crypto storage
- Decentralized finance (DeFi) solutions
In conclusion, Huione’s launch of USDH has raised concerns about the lack of regulatory oversight and the potential for illicit activities. As the crypto market continues to evolve, it is essential to monitor and address these issues to ensure a safe and secure environment for all users.
Q: What is USDH?
USDH is a dollar-pegged stablecoin launched by Huione, an online marketplace platform used for illicit activities.
Q: Is USDH subject to regulatory oversight?
No, USDH is not subject to freezing or transfer limitations enforced by issuers, making it appealing to bad actors.
Q: What are the available blockchains for USDH?
USDH is available on Ethereum, BSC, Tron, and Huione’s proprietary Xone chain.
Q: What are the features of USDH?
USDH features decentralized exchange (DEX) support, crypto wallet integration, and proprietary Xone chain support.
Q: What are the partnerships and services offered by Huione?
Huione has partnered with various companies to offer crypto trading, crypto storage, and decentralized finance (DeFi) solutions.
Q: What is the conclusion of the article?
The conclusion is that Huione’s launch of USDH has raised concerns about the lack of regulatory oversight and the potential for illicit activities, emphasizing the need to monitor and address these issues for a safe and secure crypto market.