Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesEarnSquareMore
Huione Wallets Beat Hydra & Silk Road in Crypto Volume

Huione Wallets Beat Hydra & Silk Road in Crypto Volume

CoinomediaCoinomedia2025/08/01 16:40
By:Aurelien SageAurelien Sage

Huione-linked wallets processed more crypto than Hydra and Silk Road combined, Bloomberg reports.Breaking Down the NumbersGlobal Implications for Crypto Regulation

  • Huione wallets processed over $11B in crypto transactions.
  • Volume surpassed that of Hydra and Silk Road combined.
  • Raises global concerns over crypto misuse in Southeast Asia.

A Bloomberg report has uncovered that wallets linked to the Huione Group have processed over $11 billion in cryptocurrencyoutpacing the combined volume of Hydra and Silk Road, two of the most infamous darknet markets in history.

While Silk Road and Hydra operated largely in the shadows of the dark web, Huione wallets functioned in plain sight, utilizing platforms like Telegram and Huione Pay to facilitate transactions. Many of these wallets are now believed to be tied to scams, illegal gambling operations, and financial fraud rings spread across Southeast Asia.

Breaking Down the Numbers

Silk Road was shut down in 2013 after facilitating about $1.2 billion in crypto trades. Hydra, taken offline in 2022, recorded approximately $5.2 billion in transactions. In contrast, Huione-connected wallets are believed to have moved more than $11 billion, according to Bloomberg’s data.

This staggering number not only makes Huione’s network larger than both platforms combined, but also highlights how crypto-related crime has evolved from the darknet to more public platforms.

🚨 LATEST: Huione-linked wallets processed more crypto than Hydra and Silk Road combined, per Bloomberg. pic.twitter.com/VTSWtu26fm

— Cointelegraph (@Cointelegraph) August 1, 2025

Global Implications for Crypto Regulation

This revelation has put regulators and law enforcement on high alert. The sheer scale of activity linked to Huione shows how easily financial services can be exploited in loosely regulated jurisdictions.

As the crypto industry continues to grow, experts stress the need for stronger international cooperation and clear compliance frameworks to prevent such massive operations from flying under the radar.

Read Also :

  • Michael Saylor Defends Owning 3-7% of Bitcoin Supply
  • UK FCA to Allow Retail Access to Crypto ETNs from October
  • Ethereum Surges 66% in July, Outpacing May’s Gains
  • Tether’s US Treasuries Now Exceed South Korea’s Holdings
  • While Cosmos Gains 4% and SEI Risks a 4% Drop, BlockDAG Locks in 2.5M Miners, 200K Holders, and $358M In Presale
Disclaimer: The content on CoinoMedia is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency investments carry risks, and readers should conduct their own research before making any decisions. CoinoMedia is not responsible for any losses or actions taken based on the information provided.
0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Earn new token airdrops
Lock your assets and earn 10%+ APR
Lock now!

You may also like

Cobie: Long-term trading

Crypto Twitter doesn't want to hear "get rich in ten years" stories. But that might actually be the only truly viable way.

Chaincatcher2025/11/29 19:18
Cobie: Long-term trading

The central bank sets a major tone on stablecoins for the first time—where will the market go from here?

This statement will not directly affect the Hong Kong stablecoin market, but it will have an indirect impact, as mainland institutions will enter the Hong Kong stablecoin market more cautiously and low-key.

Chaincatcher2025/11/29 19:17
The central bank sets a major tone on stablecoins for the first time—where will the market go from here?

Charlie Munger's Final Years: Bold Investments at 99, Supporting Young Neighbors to Build a Real Estate Empire

A few days before his death, Munger asked his family to leave the hospital room so he could make one last call to Buffett. The two legendary partners then bid their final farewell.

ForesightNews2025/11/29 18:52
Charlie Munger's Final Years: Bold Investments at 99, Supporting Young Neighbors to Build a Real Estate Empire

Stacks Nakamoto Upgrade

STX has never missed out on market speculation surrounding the BTC ecosystem, but previous hype was more like "castles in the air" without a solid foundation. After the Nakamoto upgrade, Stacks will provide the market with higher expectations through improved performance and sBTC.

雨中狂睡2025/11/29 17:51
Stacks Nakamoto Upgrade