Tether Freezes $39.3M in Xinbi Guarantee Wallets Amid Anti-Scam Push

Tether recently froze $39.3 million in USDT tied to Xinbi Guarantee on September 8, according to blockchain monitor MistTrack.

A forensics firm, Bitrace, counted a higher total: roughly $45 million across 21 addresses.

The frozen list may reach beyond Xinbi's escrow wallets, as two of the addresses in Bitrace's count belong to 'Xpay', which appears to be Xinbi's newer payment service rather than its original escrow wallets.

Xinbi Guarantee is a Chinese-language marketplace that runs largely through Telegram and has become one of the largest cash-out points for pig-butchering scams and stolen crypto in Southeast Asia.