Crypto
US DOJ Credits Tether for Helping Freeze $52M in Xinbi Guarantee Assets
The US Department of Justice has publicly thanked Tether for its role in disrupting Xinbi Guarantee, a Chinese-language crypto marketplace accused of supporting fraud and money laundering.
Xinbi operated mainly on Telegram and facilitated scams including fake investment sites and money laundering. Authorities restrained over $52 million in digital assets linked to the platform.
Tether's ability to freeze tokens quickly at the contract level was crucial in the coordinated sweep, highlighting its growing role as an active partner in investigations, beyond just compliance.