It is claimed that the illegal HUIONE group (USDH) deceives CERTIK to check for legitimacy
Huione Group, a Cambodi -based company, is said to be the largest illegal market that Blockchain Certik security company to produce a newly launched STADLECOIN review, USDH.
in mail On X, Ronghui Gu, co -founder of CERTIK, claims that the smart contract review company has been contacted by a third party agency, which deepened them from linking the project to the illegal market.
CERTIK claims that it was misled
The Hayun Group was Exposed to Be behind the Huione Loveplace market, which facilitates transactions for Internet crimes in Southeast Asia; According to what was reported, the platform was processed more than $ 24 billion in transactions.
In 2024, it was reported USDH Stablecoin, which is linked to the US dollar and is marketed as an control resistance to help users freeze transactions that are usually associated with the famous Stablecoins like USDT. This raises fears that the currency is a tool to help money launder.
After the launch of Usdh, Huione Group Certik, a prominent security company in Blockchain, contracted to make a smart contract for Stablecoin.
the review 12 security issue was identified: three main issues, three small issues and four media. The main issues were about the centrality of the currency. The audit report indicated that six of these issues were resolved, partially resolved, and five recognition.
The currency has a Certik safety degree less than 30 %, but it has gone with scrutiny as a legitimate sign regardless.
However, there are allegations that the Huione group may have offended or hidden critical information from the audit team during the audit in order to obtain a positive evaluation.
Ronghoy Joe, co -founder of CERTIK, said that a third party had contacted CERTIK on charges of scrutiny, which prevented them from linking the project quickly to fraudulent activities. While asserting that CERTIK evaluates the security and functions of the code and does not perform KYC or business audits, he added: “We agree that due care and additional alerts have helped”, admitting that the company could have done better work to protect the public interest.
Huione’s guarantee tried to stay away from the HUIONE group, which made the credibility of the allegations that the Foundation cleared Certik to give it a positive review.
In July 2024, Blockchain Analytics Ellipite published an investigative report, unveiled the group as behind the illegal market. After the publication of this post, HUIONE’s guarantee was renamed as Hawang, Huione Group payments, and Huione Pay removed a section on its website designated for the market. However, the HUIONE group remains a “strategic partner and a shareholder”, according to market data.
Certik reputation takes a blow
This condition highlights the challenges in Blockchain and Crypto markets in terms of project review. Although smart contract audits evaluate technical weaknesses, they do not evaluate commercial operations or organizational compliance with entities behind projects, which allow bad actors to use audit reports as a character of legitimacy.
Voice on the series, Tayvano_on X (previously Twitter) also indicated this in mailSaying, “The process of money laundering with millions of dollars is a craftsmanship that has paid Certik to conclude the approval of the new money laundering contract.”
Others have raised Certik checking the American dollar of the American unit questions about the need for a more comprehensive evaluation framework that includes technical assessments and diligence due to the entities behind Blockchain projects. The reaction can negatively affect the reputation of CERTIK, as critics have said it took money to support criminals.
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