US Takes Down Xinbi Guarantee Scam Marketplace, Freezes $52M in Crypto Assets
The US Department of Justice (DOJ) and Office of Foreign Assets Control (OFAC) have taken action against Xinbi Guarantee, a cryptocurrency-enabled scam marketplace. The operation involved seizing over $52 million in cryptocurrency tied to the platform and sanctioning Xinbi as a significant transnational criminal organization.
According to the DOJ, two wallets associated with Xinbi were used to collect vendor payments totaling approximately $12 million. A further 47 wallets believed to be connected to money laundering across Xinbi's network are also subject to restraints.
The Treasury alleged that Xinbi shifted parts of its messaging and payments stack to technology provided by SafeW Technology and Anwen Technology starting around June 2025, as enforcement pressure increased. The sanctions block Xinbi's access to US-based property and generally prohibit US persons from engaging with designated entities.