US DOJ Takes Down $52M Xinbi Scam Marketplace
The US Department of Justice's Scam Center Strike Force has taken down a major Chinese-language scam marketplace called Xinbi Guarantee, seizing over $52 million in cryptocurrency.
Xinbi operated on Telegram, offering services to scam center operators, including building custom fraud investment websites and recruiting trafficking victims. The platform held payments in escrow until vendors finished their jobs, allowing prosecutors to trace specific victim funds to wallet addresses posted by vendors.
The Treasury's Office of Foreign Asset Control (OFAC) designated Xinbi a transnational criminal organization, freezing any property it holds in the US. This move follows earlier sanctions from the British government, which estimated Xinbi had processed nearly $20 billion in crypto between 2021 and 2025.
U.S. Attorney Jeanine Pirro stated that the case shows ordinary people are at risk, particularly those with retirement accounts, and vowed to continue dismantling Chinese organized crime.