U.S. seizes $52.8 million in crypto from Xinbi Guarantee scam marketplace

September 9, 2026 at 11:26 PM2 min

This digest was compiled by AI from multiple sources — links to the originals are below.

The U.S. Department of Justice seized Telegram channels and two cryptocurrency wallets linked to Xinbi Guarantee, an illicit marketplace for scam services. The action froze $52.8 million in Tether and brought total crypto restrained by the Scam Center Strike Force to $938 million. The Treasury also sanctioned the Chinese-language media for facilitating cyber scams targeting Americans.

Key Facts

The U.S. Department of Justice seized Telegram channels and two cryptocurrency wallets tied to Xinbi Guarantee on Wednesday.
The operation froze $52.8 million in Tether's USDT stablecoin, according to blockchain analytics firm Elliptic.
The Scam Center Strike Force has now restrained approximately $938 million in cryptocurrency linked to scam operations.
The Treasury Department's OFAC sanctioned Chinese-language media for facilitating cyber scams, fraud, and money laundering targeting Americans.
Xinbi Guarantee has processed $30 billion in transactions since its inception around 2022, making it the second largest illicit marketplace of its kind.

The Xinbi Guarantee Marketplace

Xinbi Guarantee operated as a Telegram-oriented marketplace connecting vendors with scam center operators running 'pig butchering' romance scams. The platform acted as an intermediary, holding payments in escrow until vendors completed services such as creating fake investment websites or laundering fraud proceeds. Xinbi rose to prominence after the closure of similar storefronts HuiOne Guarantee and Tudou Guarantee last year. The marketplace has reportedly been used by North Korean hackers and OFAC-designated entities including Jin Bei Group Co., Ltd. and parts of the Prince Group TCO.

U.S. Enforcement Actions

The Department of Justice deployed the Scam Center Strike Force to Madagascar to help disrupt 13 scam compounds run by Chinese organized crime syndicates. Elliptic worked with the U.S. Secret Service to identify and freeze wallets holding $52.8 million in USDT. Secretary of the Treasury Scott Bessent stated that scam centers in Southeast Asia steal billions of dollars from American victims each year. The Treasury's Office of Foreign Assets Control imposed sanctions on Chinese-language media for facilitating cyber scams and money laundering.