$39M Tether Freeze Targets Xinbi Guarantee, Sanctioned by US Authorities

Tether has frozen approximately $39.3 million in USDT across 10 TRON addresses linked to Xinbi Guarantee, a Chinese-language guarantee marketplace that investigators say has facilitated billions of dollars in crypto transactions.

Xinbi emerged around 2022 as a platform primarily operating through Telegram, connecting buyers with vendors while holding deposits designed to ensure transactions are completed. However, blockchain intelligence companies say Xinbi's vendors have offered money laundering and other services supporting cybercrime.

Estimates of Xinbi's transaction volume vary because analytics companies use different address clusters and measurement periods. TRM Labs estimates the platform has processed approximately $24.2 billion since its establishment, including $12.1 billion in inflows since May 2025.

The September 8 wallet restrictions were followed one day later by significantly broader U.S. action. The Treasury Department's Office of Foreign Assets Control sanctioned Xinbi Guarantee on September 9 as a transnational criminal organization and added numerous TRON addresses associated with the network to its sanctions list.