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.
- Treasury also sanctioned Anwen Technology (XinbiPay) and SafeW Technology (encrypted messaging app).
- Xinbi acted as escrow and one-stop shop for laundering, scam websites, and trafficking victims.
- Strike Force is expanding its scope to target scam compounds globally.
- Successor to HuiOne Guarantee and Tudou Guarantee, both closed in 2025.
- Vendors
- Tether
- Products
- XinbiPay
- Threat actors
- Prince Group TCOJin Bei Group
- Organizations
- Xinbi GuaranteeUS Department of JusticeUS Department of the TreasuryUS Secret ServiceElliptic
- Countries
- United StatesMadagascarChina
From the original article
4 min read at thehackernews.com
The U. S. Department of Justice (DoJ) on Wednesday announced coordinated actions aimed at an illicit online marketplace called Xinbi Guarantee that offered scam services, including seizing Telegram channels used to run the service, confiscating two cryptocurrency wallets, and deploying the Scam Center Strike Force to Madagascar to help disrupt 13 scam compounds run by Chinese organized crime
thehackernews.com
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