Organization

Elliptic

3 mentions in 7 days · 3 in 30 days · 3 total · first seen Sep 9, 2026 · last 5d ago

Timeline3 articles

OFAC Sanctions Chinese Scam Platform Xinbi Guarantee

US Treasury's OFAC sanctioned Chinese scam-platform Xinbi Guarantee, which processed $24bn+, and froze $52.8m in linked cryptoassets.

OFAC sanctioned Xinbi Guarantee, a Chinese-language marketplace connecting Southeast Asian scam centers and transnational crime syndicates to merchants offering financial services, technology and crypto exchange. Treasury estimates over $24bn processed since 2022, while TRM Labs estimates over $36bn, with daily inflows nearly doubling between May and December 2025. Two supporting entities were also sanctioned: SafeW Technology (Singapore) and Anwen Technology (Cambodia, maker of XinbiPay). The US Secret Service and Elliptic froze $52.8m in linked cryptoassets, and the marketplace now appears offline with its Telegram channels deleted.

Infosecurity Magazineupdated Sep 10, 21:15 UTC · 5d agofirst Sep 10, 08:00 UTC · 5d agoPolicy & legal 4 sources1

US disrupts Xinbi Guarantee marketplace fueling the cyber scam economy

US Treasury sanctions and DOJ seizures take down Xinbi Guarantee, a Telegram marketplace that processed $24B+ for cyber scams, freezing $52.8M.

The Treasury Department sanctioned the Chinese-language Telegram marketplace Xinbi Guarantee and two supporting firms, Anwen Technology (XinbiPay) and SafeW Technology, while the DOJ seized its Telegram channels and $52.8 million in USDT from 52 wallets. Blockchain intelligence firm Elliptic, which assisted the Secret Service, estimates Xinbi has processed at least $24 billion in transactions since 2022, making it the second-largest illicit online marketplace and a cornerstone of Southeast Asian cybercrime. Vendors sold money laundering, stolen personal data, deepfake technology, and other services for pig-butchering scams, with payments in Tether's USDT. The DOJ's Scam Center Task Force also dismantled 13 scam centers in Madagascar, arresting dozens of alleged leaders who were repatriated to China.

The Recordupdated Sep 10, 21:15 UTC · 5d agofirst Sep 9, 19:54 UTC · 6d agoPolicy & legal 4 sources

U.S. Disrupts Xinbi Guarantee Scam Marketplace, Freezes $52.8 Million in Crypto

US DOJ and Treasury disrupt Xinbi Guarantee Telegram scam marketplace, sanctioning it and freezing $52.8M in USDT across 52 wallets.

The DOJ seized Xinbi Guarantee's Telegram channels and cryptocurrency wallets while OFAC sanctioned the marketplace, freezing $52.8 million in USDT from 52 wallets and bringing the Scam Center Strike Force's total restrained funds to roughly $938 million. Elliptic, which worked with the Secret Service, estimates Xinbi has processed $30 billion in transactions since around 2022, serving pig-butchering scam operators and links to North Korean hackers, Jin Bei Group, and Prince Group TCO. The strike force dismantled 13 scam compounds in Madagascar, seizing over 3,200 devices and interviewing roughly 400 arrestees, with about 30 Chinese compound leaders repatriated to China. After Tether froze funds, Xinbi began converting remaining USDT into the USDD stablecoin.

The Hacker Newsupdated Sep 10, 21:15 UTC · 5d agofirst Sep 9, 18:26 UTC · 6d agoPolicy & legal 4 sources

Appears with

product XinbiPay 3 organization US Secret Service 3 organization Xinbi Guarantee 2 organization US Department of the Treasury 2 vendor Tether 2 organization US Department of Justice 2 organization TRM Labs 1 organization US Treasury 1 vendor Anwen Technology 1 vendor SafeW Technology 1 threat actor Jin Bei Group 1 victim Xinbi Guarantee 1 threat actor Prince Group TCO 1 organization Anwen Technology 1 organization Huione Guarantee 1 organization OFAC 1

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