The DOJ restrained over $52 million in cryptocurrency from the Xinbi Guarantee scam marketplace, seizing two wallets and targeting 47 additional accounts. The Scam Center Strike Force also obtained a court order to seize Telegram channels used by the platform. Treasury sanctions blacklisted Xinbi, SafeW Technology, and Anwen Technology. Tether provided assistance, enabling the freeze of USDT tokens. The operation brings the Strike Force’s total restrained assets to approximately $938 million. Xinbi has processed more than $24 billion in digital assets and fiat since 2022, according to Treasury. The crackdown is part of a wider U.S. strategy against scam infrastructure linked to Southeast Asian fraud networks.
The DOJ’s Scam Center Strike Force announced on Sept. 9 that it had restrained over $52 million in cryptocurrency from the Chinese-language marketplace Xinbi Guarantee. Authorities seized two crypto wallets containing about $12 million and sought restraints on 47 additional wallets tied to suspected money laundering.
The operation lifted the Strike Force’s total restrained assets to about $938 million. Tether later said the DOJ had credited its “proactive assistance” in the Xinbi investigation. According to Tether CEO Paolo Ardoino, “technology behind stablecoins helps trace and disrupt illegal activities.” He added that criminal organizations should not think that cryptocurrency takes money out of the investigators’ reach.
The DOJ claimed that Xinbi operated through Telegram, allowing scam center operators to communicate with vendors providing money laundering, fraudulent investment websites, and technical assistance. Some vendors were involved in recruitment linked to human trafficking and scam compounds in Southeast Asia. A federal court ordered the seizure of Telegram channels used by the marketplace on Sept. 7.
Two days later, the Treasury’s Office of Foreign Assets Control blacklisted Xinbi as a transnational criminal organization. It also blacklisted SafeW Technology and Anwen Technology for their involvement. Treasury claims Xinbi has processed more than $24 billion in digital assets and fiat currency since 2022.
Telegram had suspended channels associated with Xinbi and Huione Guarantee in May 2025, but the suspension did not shut down operations. Other channels emerged, and other guarantee marketplaces took their share of the business. The broader U.S. strategy also targets the Huione Group. FinCEN stated that the Cambodia-based company laundered at least $4 billion of criminal proceeds between August 2021 and January 2025.
