Huione Pay License Revocation Sparks Bloody Protest by Chinese Users in Cambodia

Huione Pay is Huione Group’s cross-border payments platform. The National Bank of Cambodia revoked its license in September 2024 and completed its liquidation on June 19, 2025. The U.S. Financial Crimes Enforcement Network (FinCEN) said the group laundered at least $4 billion between August 2021 and January 2025, highlighting how efforts to disrupt scam-related money flows can affect ordinary users’ deposits.

On April 27, 2026, dozens of Chinese users gathered outside the National Bank of Cambodia in Phnom Penh to demand that their accounts be unfrozen. The protest led to bloody clashes with police and security personnel. More than 1,300 creditors were affected, with some accounts frozen since December 2025. One business operator said about $50,000 could not be withdrawn. Former chairman Li Xiong was repatriated to China on April 1, 2026.