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BlockBeats News: On April 21st, a new report from the United Nations Office on Drugs and Crime (UNCTAD) shows that transnational criminal groups from East and Southeast Asia are rapidly expanding their operations globally, using illegal cryptocurrency mining as a "powerful tool" for laundering billions of dollars in illegal gains. The report titled 'Turning Point: The Global Impact of Southeast Asian Fraud Centers, Underground Money Banks, and Illegal Online Markets' documents how these criminal groups have infiltrated weakly regulated regions such as Zambia, Nigeria, Tonga, and the Middle East. The author of the report stated that the criminal activities of these criminal gangs are becoming increasingly diverse, no longer limited to fraud and trafficking. They have also established mature online ecosystems, including unlicensed cryptocurrency exchanges, encrypted messaging tools, and stablecoins, to promote an industrial scale fraud economy. The report points out that Huione Guarantee (recently renamed Haowang) is one of the central hubs of this underground economy. Since 2021, this platform based in Cambodia has over 970000 users and $24 billion in cryptocurrency traffic, making it a one-stop shop for money laundering tools, false identities, and fraud services. With increasing law enforcement pressure, many services are now available on Telegram. The platform has also launched its own stablecoin, blockchain, cryptocurrency trading platform, and online gambling products aimed at "evading government control".