Feds Freeze Nearly $1 Billion in Scam Crypto After Telegram Bust

The US Justice Department's Scam Center Strike Force has frozen approximately $938 million in scam-linked cryptocurrency, following an operation targeting a marketplace operating on Telegram.

The strike force restrained about $52 million of cryptocurrency involved in scam money laundering in one day, bringing the total restrained to nearly $1 billion.

Xinbi's financial reach extended beyond individual scam compounds, with Treasury estimating more than $24 billion in transactions since its inception around 2022.

The platform operated alongside a broader market for Chinese-language money laundering services, which processed $16.1 billion in illicit cryptocurrency during 2025, according to Chainalysis.