TRON-based USDT tied to a $1.6 billion Ponzi scheme

crypthub

about 21 hours ago

USDT on TRON and the $1.6 B Ponzi Scheme

USDT on TRON is among the most heavily used stablecoins, processing billions of dollars daily. Blocksec traced a $1.6 billion Ponzi operation that moved funds exclusively through USDT‑TRON. The fraud employed multiple wallet tiers for collection, routing and payout, and investigators intercepted $1.6 million of traffic. Some transfers appear to be internal recycling, but the overall flow remained massive.

Scheme Structure and Front Company

The scammers posed as Verily HK, a fake health‑tech investment platform mimicking Alphabet’s Verily Life Sciences. Between Oct 2024 and Feb 2026 they rotated at least 15 collection addresses across eight generations, handling hundreds of millions each month. The final generation moved $900 million in four months, bringing the total to $1.6 billion. Victims disclosed deposit and payout addresses, allowing Blocksec to map the entire wallet network.

Huione Links and Wider USDT‑TRON Activity

On‑chain data shows roughly $4.6 million passed from the Ponzi hub to wallets linked to the Cambodian escrow service Huione Group, previously tied to hacks and laundering. USDT‑TRON now exceeds 86 billion tokens, with over 73 million wallets and about 34 million daily transactions, 15 k of which exceed $1 million. It is the second busiest stablecoin after BNB‑USDT, yet only a tiny portion of illicit addresses have been frozen, highlighting significant oversight gaps.

TRON-based USDT tied to a $1.6 billion Ponzi scheme

USDT on TRON and the $1.6 B Ponzi Scheme

Scheme Structure and Front Company

Huione Links and Wider USDT‑TRON Activity

TRON-based USDT tied to a $1.6 billion Ponzi scheme

USDT on TRON and the $1.6 B Ponzi Scheme