DOJ Shuts Down Chinese-Language Scam Marketplace on Telegram

The US Department of Justice (DOJ) has taken down Xinbi Guarantee, a Chinese-language marketplace on Telegram that allegedly sold services to online scam centers targeting Americans. The platform had more than 650,000 users and operated as an escrow service for vendors and scam-center operators.

As alleged in a seizure warrant, Xinbi allowed vendors to advertise custom scam investment websites, money-laundering services, and recruitment of trafficking victims to work in Southeast Asian scam compounds. Once a scammer bought a service, Xinbi allegedly held the payment until the vendor completed the work.

The DOJ's Scam Center Strike Force, along with the Treasury Department, took coordinated action against Xinbi, which included restraining more than $52 million in cryptocurrency allegedly tied to scam money laundering. This brings the total restrained funds by the Strike Force to about $938 million.