Tether Freezes $39 Million Linked to Xinbi Guarantee on TRON
Tether has frozen $39 million in USDT held across 10 TRON wallets linked to Xinbi Guarantee, a Telegram-based escrow network. This move follows Tether's earlier action against funds associated with Huione Guarantee, another Telegram-based marketplace that has been linked by researchers to illicit crypto activity.
The freeze highlights the role of centralized stablecoin issuers in financial compliance. Although USDT operates on public blockchains, Tether retains the ability to restrict specific addresses at the token-contract level. This allows funds associated with investigations, sanctions, or other illicit activity to be immobilized.
Xinbi Guarantee has faced increasing attention from blockchain intelligence firms and authorities. The network processed approximately $24.2 billion in crypto transactions since 2022, placing it among the largest illicit marketplaces identified in the region.