US Cracks Down on Scam-Linked Crypto Marketplace Xinbi Guarantee
US authorities restrained approximately $52 million in scam-linked cryptocurrency and seized Telegram channels tied to Xinbi Guarantee, a Chinese-language marketplace. The Treasury sanctions and Justice Department wallet actions were part of a coordinated effort.
Elliptic, a blockchain analytics firm, tracked Xinbi wallets for years, which helped the US Secret Service act against the marketplace. Xinbi serves scam-center operators and vendors across Telegram, advertising fraud websites, money laundering services, and recruitment for scam compounds in Southeast Asia.
The United Kingdom sanctioned Xinbi in March 2026, followed by a similar designation from the Office of Foreign Assets Control. Prosecutors seized two Xinbi payment wallets holding about $12 million and moved against 47 additional wallets. The Justice Department also credited Tether for assisting the operation.