DOJ Freezes $52 Million in Crypto Linked to Xinbi Guarantee Scam Network

The US Department of Justice (DOJ) has taken action against the Xinbi Guarantee scam network, freezing over $52 million in cryptocurrency. The enforcement operation targeted wallets and online channels linked to the network, which is believed to have processed at least $8.4 billion in transactions since 2022.

Tether, a stablecoin issuer, assisted law enforcement by blocking specific tokens held at identified addresses. This allowed authorities to trace transactions and stop illicit funds. The company has worked with over 340 agencies across 67 countries, helping to freeze more than $5 billion in assets connected to suspected illicit activity.

The Xinbi operation is part of a larger effort by US agencies to target crypto scam networks. In May 2025, the Treasury's Financial Crimes Enforcement Network (FinCEN) identified Huione Group as a primary money laundering concern, citing at least $4 billion in laundered proceeds between August 2021 and January 2025.