NBC urges Huione Pay users to settle frozen fund claims

Cambodia’s central bank has called on former Huione Pay customers to come forward with documents to resolve outstanding payment issues, following a wave of public anger over the sudden freezing of the company’s funds.

The National Bank of Cambodia (NBC) announced that users linked to the liquidated payment operator should visit its Sen Sok office between 8 and 19 December to verify their identity and submit evidence of their claims. The move comes after widespread criticism erupted online when customers reported they had not received payments, despite the company’s licence being revoked more than a year ago.

Huione Pay, later rebranded as H‑Pay Service Plc, had its operating licence withdrawn in September 2024. Liquidation was carried out in June 2025 by Reachs & Partners Co Ltd, yet complaints continued to surface on social media, prompting the NBC to intervene directly.

In its statement, the central bank said it had noted “numerous concerns” from people awaiting funds and urged anyone associated with the company to bring relevant documents to facilitate verification. It also warned the public to avoid unlicensed crypto‑related transactions, highlighting the risks posed by operators outside official oversight.

The controversy has unfolded against the backdrop of severe US sanctions. According to the US Treasury’s Office of Foreign Assets Control, Huione allegedly laundered more than $4 billion in illicit proceeds between 2021 and early 2025. This reportedly included over $300 million linked to North Korean cyber heists and other online fraud schemes targeting victims emotionally and financially.

In October, the company was formally cut off from the US financial system under Section 311 of the USA PATRIOT Act, a designation typically reserved for entities deemed to pose significant money‑laundering risks.

For Cambodian customers still waiting for answers, the NBC’s call marks the first concrete step toward resolving long‑delayed payments. But with the operator dissolved and international sanctions in place, the process is likely to be closely scrutinised — and far from straightforward.