**[Bitrace: Only 990,000 USDT Left on Huionepay Chain, User Withdrawals Halted]** BlockBeats News, December 3: According to Cambodian media, Huione Group issued an announcement stating that due to recent changes in the external market environment, millions of users initiated concentrated withdrawals in a short period of time. To ensure the safety of user funds and the smooth progression of subsequent repayment processes, the company has implemented a phased delay in repayments after careful evaluation and internal research. In response to this matter, the security agency Bitrace published an article stating that Huionepay primarily operates its stablecoin payment and receipt business on the Ethereum and TRON networks. On the Ethereum network, all business addresses had already depleted almost all USDT balances as of October, with the last valid transfer occurring on November 3. Since then, there have been no related withdrawal activities. On the TRON network, the shutdown of operations was carried out gradually. On November 3, 7, 17, 19, and 24, Huionepay consolidated the balances of its hot wallet addresses into several addresses for user withdrawals. These funds were depleted around November 28, after which new addresses were urgently activated to collect user funds to maintain operations. On-chain analysis shows that Huionepay's daily USDT outflow decreased from a peak of 41.83 million at the beginning of the month to 7.17 million on November 30. Currently, on-chain analysis indicates that after processing the last user withdrawal request at 1:00 PM (UTC+8) on December 1, Huionepay has completely stopped small withdrawals. Although user fund consolidation activities are still ongoing, funds are no longer flowing to regular user addresses but are instead being transferred in large amounts. As of December 2, 2025, Huionepay's on-chain addresses hold only 990,000 USDT. This confirms that the entity indeed ceased operations on December 1, consistent with the statement in Huione Group's announcement.