Crypto

$52M Xinbi Crypto Freeze Blocks Escalating Scam Market

Guavy AI Editorial Team Published September 10, 2026

The US Department of Justice has restrained $52 million in cryptocurrency tied to Xinbi Guarantee, a Chinese-language illicit marketplace operating on Telegram. This move follows a multi-year tracking effort by Elliptic, which enabled the Secret Service to act and seize the Telegram channels of Xinbi Guarantee.

Xinbi is known for selling services to scam center operators, including custom fraud websites, money laundering, and recruitment for compounds in Southeast Asia. According to Elliptic, the operation has handled at least $24 billion in transactions since 2022, second only to Huione Guarantee, which handled $31 billion before shutting down in 2025.

Prosecutors seized two Xinbi payment wallets containing about $12 million and moved against 47 more. The Office of Foreign Assets Control designated Xinbi a significant transnational criminal organization on the same day, separately designating two entities that supported the marketplace.

$52M Xinbi Crypto Freeze Blocks Escalating Scam Market

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