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.
- Xinbi grew after Telegram's Huione Guarantee takedown; DarkTower counted 4,600+ crime-as-a-service vendors.
- Following the freeze, Xinbi announced migration from freezable USDT to the USDD stablecoin on TRON.
- The UK sanctioned Xinbi in March 2026; the strike force is expanding to target scam compounds globally.
- Tether froze two vendor-payment wallets holding roughly $12 million.
From the original article
3 min read at therecord.mediaThe U. S. government also carried out a seizure of $52.
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