Fake Hong Kong Health Tech Company Absconds with 1.6 Billion USDT, On-Chain Tracking Reveals Full Picture of the Scam
BlockSec's on-chain investigation exposes VerilyHK, a fraudulent platform posing as a Hong Kong health-tech company, which processed approximately $1.6 billion USDT over 16 months via the TRON network. The scheme employed a sophisticated, multi-layered infrastructure: 8 generations of receiving hot wallets, 79 intermediate addresses, and 3 generations of paired withdrawal channels. Funds were systematically funneled through thousands of disposable addresses before converging into a single centralized exchange. The operation also revealed ties to the Cambodia-based Huione Group, sanctioned by FinCEN for money laundering. This industrial-scale routing structure highlights advanced evasion tactics, including timed wallet rotations and segregated transaction pathways, underscoring the need for enhanced compliance detection of structured crypto fraud.
marsbit04/09 11:47
