US Strike Force Cuts Off $52M in Crypto-Linked Scam Networks

A US crackdown on crypto-linked scam networks has restrained more than $52M in digital assets, bringing the total to approximately $938M since its launch last November.

The operation targeted Xinbi Guarantee, an alleged Chinese-language marketplace that authorities say connected scam operators with vendors offering custom investment-scam websites, money-laundering services, and recruitment for scam compounds in Southeast Asia.

US Attorney Jeanine Ferris Pirro warned that the threat extends beyond organised crime: 'If Chinese organised crime can buy a custom website and a money laundering service the way you order takeout, then every American with a retirement account is in the blast radius.'