Cambodia central bank warns public over Huione Pay claims, crypto risks

PHNOM PENH, April 11, 2026 (KPT) – The National Bank of Cambodia has reiterated that Huione Pay Co., Ltd. was never authorised to operate as a commercial bank, amid ongoing disputes involving individuals claiming unpaid funds.

In a statement, the central bank said Huione Pay was licensed in July 2018 to provide payment services only, and was not permitted to accept deposits or issue loans.

Regulators said they conducted regular inspections before revoking the company’s licence in September 2024 for breaches of applicable laws.

A liquidation process followed, with creditors invited to submit claims in early 2025. The firm was removed from the commercial register in June that year.

Despite this, some individuals continued to claim they were unpaid creditors. A verification process opened in December 2025 drew 1,297 claimants, reporting combined claims of about $31 million and a further $20 million in USDT.

After reviewing submissions with several ministries and an anti-cybercrime committee, the bank said it found insufficient legal grounds to recognise the claims.

In March 2026, claimants were informed they could pursue cases through the courts. Around 200 people later gathered outside the central bank alleging they were still owed funds. Officials again urged them to seek resolution through judicial channels.

The bank also warned the public about risks linked to crypto-assets, stressing they can lead to financial losses, are used at users’ own risk, and may be tied to illegal activity. It advised caution in engaging with such transactions.