Bitrace: The address where 29.62 million USDT was frozen is the address related to the guarantee business of Cambodia Huiwang Group that month

On July 14th, blockchain data analysis company Bitrace tweeted that the TRON network address TNVaKW was frozen by Tether on July 13th for over 29.62 million USDT. After analysis, Bitrace confirmed that the address was related to a guarantee business address launched by Cambodian Huobi Group on July 9th, 2024. Bitrace also stated that Huobi has now resumed operations with a new business address TQuFSv and transferred 114,800 USDC from the frozen TNVaKW address. In addition, their official old business address TL8TBp is still operating normally, and their other guarantee and payment-related addresses have not been frozen in the past six months. The reason for the freezing of this address may be related to money laundering for fraudulent or theft-related criminal activities.