TLDR
- The U.S. Treasury sanctioned Xinbi Guarantee, a Chinese-language online marketplace used by cybercriminals for crypto-fueled scams
- Xinbi has processed over $24 billion in crypto and fiat since 2022, primarily through Southeast Asia
- The DOJ seized two wallets containing $12 million and sought restraints on 47 additional wallets, totalling over $52 million in crypto
- Xinbi was linked to North Korean hackers, the Prince Group, and money laundering networks operating via Telegram
- Two tech firms, Singapore-based SafeW Technology and Cambodia-based Anwen Technology, were also sanctioned for supporting Xinbi
The U.S. Treasury Department has sanctioned Xinbi Guarantee, an online marketplace accused of running large-scale crypto-linked criminal operations. The action was announced on Wednesday as part of a coordinated effort involving multiple federal agencies.
Today, Treasury’s Office of Foreign Assets Control sanctioned Transnational Criminal Organization Xinbi Guarantee, a Chinese-language platform used extensively by Chinese cybercriminals to support cyber scams, fraud, money laundering, and other criminal activity targeting…
— Treasury Department (@USTreasury) September 9, 2026
Xinbi is a Chinese-language platform that launched around 2022. Since then, it has processed over $24 billion in transactions, much of it in cryptocurrency, according to the Treasury’s Office of Foreign Assets Control.
The platform is accused of helping scam centers in Southeast Asia buy supplies and launder money. It also allegedly supported North Korean hackers and entities tied to the previously sanctioned Prince Group.
DOJ Seizes Wallets and Telegram Channels
The Department of Justice’s Scam Center Strike Force seized two wallets used by Xinbi to collect vendor payments. Those wallets held around $12 million in crypto.
Update
Just now, Xinbi Guarantee’s main business channels on Telegram were almost completely banned by official authorities, and a large number of TNS domains have become invalid.
This is a follow-up strike from Telegram after Tether’s crackdown. https://t.co/3i4rLieqJ5 pic.twitter.com/QJKeenbzH7
— Bitrace (@Bitrace_team) September 9, 2026
Authorities also sought court orders to restrain 47 more wallets linked to money laundering across Xinbi’s wider network. In total, more than $52 million in crypto was restrained or seized.
A U.S. District Court authorized the seizure of Xinbi’s Telegram channels on September 7. Vendors had used those channels to advertise money laundering services, fake investment websites, and recruitment for scam compounds.
Stablecoin issuer Tether assisted in the investigation, according to the DOJ. Blockchain intelligence firm Elliptic said it also helped the U.S. Secret Service track the platform.
Xinbi Tried to Move Operations Before Crackdown
As law enforcement attention grew, Xinbi began shifting its activity. Around June 2025, it started moving merchant and money laundering networks to an encrypted messaging app built by Singapore-based SafeW Technology.
Xinbi also launched a crypto wallet called XinbiPay, developed by Cambodia-based Anwen Technology. Both SafeW and Anwen were sanctioned alongside Xinbi on Wednesday.
TRM Labs Global Head of Policy Ari Redbord said that after the earlier Huione platform was shut down, Xinbi became the main escrow and cash-out service for Southeast Asia’s scam operations, moving more than $36 billion in total.
Treasury Secretary Scott Bessent said scam centers in Southeast Asia steal billions from Americans each year. He said the department will keep using its tools to disrupt these networks.
The UK had already sanctioned Xinbi in March, freezing its assets and cutting it off from UK financial and trade networks.
U.S. Attorney Jeanine Pirro added that the task force sent a team to Madagascar to address similar operations there.
The sanctions block all U.S. property and interests tied to Xinbi and prohibit U.S. persons from doing business with the designated entities.
