Crypto
US Seizes $52 Million in Cryptocurrency Linked to Xinbi Network
The United States has seized over $52 million in cryptocurrency linked to the Xinbi network.
The Department of Justice has targeted two wallets containing $12 million and aims to freeze 47 additional accounts.
The Treasury Department has designated Xinbi as an international criminal organization and imposed sanctions on two technology companies.
Authorities have revealed that Tether, the issuer of USDT, has cooperated with their investigation since 2022, with over $24 billion in transactions exceeding expectations.