US Restrains $52M in Crypto Funds Linked to Scam Marketplace Xinbi Guarantee
US authorities restrained approximately $52 million in cryptocurrency linked to Xinbi Guarantee, a Chinese-language marketplace that serves scam operators and vendors across Telegram. The action was part of a coordinated effort between the Treasury sanctions and Justice Department wallet actions.
Xinbi has been tracked by Elliptic for years, which helped the US Secret Service act against the marketplace. Xinbi vendors advertise fraudulent websites, money laundering services, and recruitment for scam compounds in Southeast Asia.
The blockchain analytics firm, Elliptic, first exposed Xinbi in May 2025 and has since counted at least $24 billion in Xinbi transactions since 2022, ranking behind Huione Guarantee's $31 billion. Xinbi Pay, a linked payments arm, processed another $6 billion, mostly using Tether's USDT on the TRON blockchain.
The UK sanctioned Xinbi in March 2026, and 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.