DOJ targets Xinbi Guarantee network, restrains over $52M in crypto

cryptonews

Yesterday

US authorities have restrained more than $52 million in cryptocurrency tied to Xinbi Guarantee and its vendor network while seizing wallets and Telegram channels used by the Chinese-language ...

Source Link

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Most Discussed

{"basename":"","ssrTDKData":{"titleTemplate":"%s - Tiger Brokers","title":"Tiger Brokers HK | Online Trading in stocks, bonds & ETFS","description":"Discover Tiger Brokers HK, an online trading platform for stocks&ETFs, options&futures, bonds and crypto. Open an account to enjoy low commission trading today!","keywords":"tiger trading,tiger security,tiger broker hk,tigers co ltd,tiger trade hk,tiger brokers hk,stock broker,securities broker,online brokerage,hong kong broker,hk broker,online stock trading,online trading platform,stock trading platforms,trading application,stock trading,stock trading hong kong,buying stocks in hong kong,tiger brokers","social":{"ogDescription":"Discover Tiger Brokers HK, an online trading platform for stocks&ETFs, options&futures, bonds and crypto. Open an account to enjoy low commission trading today!","ogImage":"https://c1.itigergrowtha.com/portal5/static/media/og-logo.0a0bd8dc.png","ogUrl":"https://www.atigrcrest.com/news/2666557967"},"companyName":"Tiger Brokers"},"pageData":{"isMobile":false,"isTiger":false,"isTTM":true,"region":"HKG","license":"TBHK","edition":"fundamental"},"isCrawlerRequest":true,"__swrFallback__":{"@#url:\"https://stock-news.skytigris.cn/v3/news\",params:#id:\"2666557967\",edition:\"fundamental\",auth_exemption:1,,,undefined,":{"share":"https://ttm.financial/m/news/2666557967?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2026-09-10 13:31","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2666557967","market":"fut","top_or_hot":-1,"title":"DOJ targets Xinbi Guarantee network, restrains over $52M in crypto","media":"cryptonews","content":"<div>\n<p>US authorities have restrained more than $52 million in cryptocurrency tied to Xinbi Guarantee and its vendor network while seizing wallets and Telegram channels used by the Chinese-language ...</p>\n\n<a href=\"https://crypto.news/doj-targets-xinbi-guarantee-network-restrains-over-52m-in-crypto/\">Source Link</a>\n\n</div>\n","source":"crypto_news_highlight","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>DOJ targets Xinbi Guarantee network, restrains over $52M in crypto</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nDOJ targets Xinbi Guarantee network, restrains over $52M in crypto\n</h2>\n\n<h4 class=\"meta\">\n\n\n2026-09-10 13:31 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://crypto.news/doj-targets-xinbi-guarantee-network-restrains-over-52m-in-crypto/><strong>cryptonews</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>US authorities have restrained more than $52 million in cryptocurrency tied to Xinbi Guarantee and its vendor network while seizing wallets and Telegram channels used by the Chinese-language ...</p>\n\n<a href=\"https://crypto.news/doj-targets-xinbi-guarantee-network-restrains-over-52m-in-crypto/\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LFGY","symbol_name":"YieldMax Crypto Industry and Tech Portfolio Option Income ETF","start_time":0,"source_url":"https://crypto.news/doj-targets-xinbi-guarantee-network-restrains-over-52m-in-crypto/","article_id":"2666557967","we_media_id":null,"thumbnails":[],"rights":{"source":"crypto_news_highlight","url":"https://crypto.news/doj-targets-xinbi-guarantee-network-restrains-over-52m-in-crypto/","rn_cache_url":null,"directOrigin":true},"url":"https://stock-news.laohu8.com/highlight/detail?id=2666557967","pubTimestamp":1789018270,"columns":[],"sourceInfo":{"source_id":"crypto_news_highlight","name":"Crypto News"},"weMediaInfo":null,"summary":"US authorities have restrained more than $52 million in cryptocurrency tied to Xinbi Guarantee and its vendor network while seizing wallets and Telegram channels used by the Chinese-language marketplace.US authorities restrained more than $52 million in crypto linked to Xinbi Guarantee and its vendor network.The DOJ seized two wallets holding roughly $12 million and sought restraints against another 47 wallets tied to suspected money laundering.US authorities seized Telegram channels where Xinbi vendors advertised money laundering, scam websites and recruitment services for Southeast Asian scam compounds.OFAC sanctioned Xinbi, SafeW Technology and Anwen Technology over their alleged roles in supporting the marketplace.The two seized wallets were used by Xinbi to collect payments for vendors operating through its marketplace. Combined with the other restraints, the operation placed more than $52 million in crypto beyond the reach of Xinbi and its vendor network, according to the DOJ.Xin","collect":0,"end_time":0,"defaultTopTitle":"crypto.news","property":[],"viewcount":null,"language":"en","relate_stocks":{"LFGY":"YieldMax Crypto Industry and Tech Portfolio Option Income ETF","NCIQ":"HASHDEX NASDAQ CRYPTO INDEX US ETF","HECO":"SPDR Galaxy Hedged Digital Asset Ecosystem ETF","DIME":"CoinShares Altcoins ETF","DAPP":"VanEck Digital Transformation ETF","BITW":"Bitwise 10 Crypto Index ETF","BKCH":"AdvisorShares Sabretooth ETF","GDLC":"Grayscale CoinDesk Crypto 5 ETF","BITQ":"Bitwise Crypto Industry Innovators ETF","STCE":"Schwab Crypto Thematic ETF","CRPT":"First Trust SkyBridge Crypto Industry and Digital Economy ETF","TEKX":"SPDR Galaxy Transformative Tech Accelerators ETF"},"translate_title":"美国司法部瞄准新比担保网络，限制超过 5200 万美元的加密货币","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"BKCH":1.5,"BITW":1.5,"DAPP":1.5,"GDLC":1.5,"CRPT":1.5,"NCIQ":1.5,"TEKX":1.5,"HECO":0.64,"LFGY":1.5,"BITQ":1.5,"DIME":1.5,"STCE":1.5},"content_text":"US authorities have restrained more than $52 million in cryptocurrency tied to Xinbi Guarantee and its vendor network while seizing wallets and Telegram channels used by the Chinese-language marketplace.\n\n\nSummary\n\n\n\nUS authorities restrained more than $52 million in crypto linked to Xinbi Guarantee and its vendor network.\nThe DOJ seized two wallets holding roughly $12 million and sought restraints against another 47 wallets tied to suspected money laundering.\nUS authorities seized Telegram channels where Xinbi vendors advertised money laundering, scam websites and recruitment services for Southeast Asian scam compounds.\nOFAC sanctioned Xinbi, SafeW Technology and Anwen Technology over their alleged roles in supporting the marketplace.\n\n\n\nThe US Department of Justice said on Sept. 9 that its Scam Center Strike Force seized two crypto wallets containing approximately $12 million and sought restraints against another 47 wallets believed to be connected to money laundering through Xinbi and vendors serving scam operators.\nThe two seized wallets were used by Xinbi to collect payments for vendors operating through its marketplace. Combined with the other restraints, the operation placed more than $52 million in crypto beyond the reach of Xinbi and its vendor network, according to the DOJ.\nTether assisted investigators with the operation, the department said. The stablecoin issuer had separately frozen $39.3 million in USDT across 10 Tron addresses linked to Xinbi earlier this week, crypto.news previously reported.\nUS seizes Xinbi wallets and Telegram channels\nCourt action against Xinbi extended beyond its cryptocurrency infrastructure.\nOn Sept. 7, the US District Court for the District of Columbia authorized the seizure of Telegram channels hosting the marketplace. A subsequently unsealed warrant described Xinbi as a Chinese-language marketplace where vendors advertised services to operators of scam centers.\nAccording to the DOJ, the services included laundering money stolen through wire fraud, building custom websites for fraudulent investment schemes and recruiting workers for scam compounds in Southeast Asia.\nXinbi served as an intermediary in transactions between vendors and their customers. The marketplace held funds intended for vendors until the purchased services had been delivered, providing an escrow system for transactions arranged through the platform.\nInvestigators said funds belonging to US victims were traced to specific vendors that advertised money laundering services and posted cryptocurrency addresses for payments in Xinbi’s Telegram channels.\nThe enforcement action came after Xinbi continued operating despite previous attempts to remove its communications infrastructure. Telegram removed thousands of channels connected to Xinbi and Huione Guarantee in May 2025, but TRM Labs found that both networks began resurfacing under new channels and names soon afterward.\nXinbi subsequently moved parts of its operation away from Telegram as scrutiny of guarantee marketplaces increased.\nTreasury sanctions Xinbi Guarantee and two technology providers\nAlongside the DOJ operation, the US Treasury Department’s Office of Foreign Assets Control designated Xinbi as a significant transnational criminal organization.\nOFAC described the marketplace as a service connecting transnational criminal groups and scam center operators with merchants providing technology, financial services and other products used in cybercrime.\nTreasury data put the value of digital asset and fiat transactions processed through Xinbi and its associated platforms at more than $24 billion since the marketplace emerged around 2022. Much of the activity took place in Southeast Asia.\nEarlier estimates had put Xinbi’s transaction volume lower as blockchain investigators identified more addresses tied to the operation. TRM Labs estimated in February that Xinbi had processed approximately $17.9 billion since mid-2025 as activity continued despite enforcement against Telegram-based marketplaces.\nOFAC said Xinbi’s platform has been used by North Korean hackers and several previously sanctioned entities, including companies linked to Cambodia’s Prince Group.\nUS prosecutors have accused Prince Group and its chairman, Chen Zhi, of operating a network involving crypto investment fraud, money laundering and forced-labor scam compounds. Authorities previously sought forfeiture of more than 127,000 Bitcoin connected to Chen and his associates in a case that involved one of the largest Bitcoin seizure actions pursued by US authorities.\nPrince Group has denied allegations against the company.\nSafeW and Anwen sanctioned over Xinbi services\nOFAC sanctioned two technology companies accused of providing services that supported Xinbi’s operations.\nSingapore-based SafeW Technology developed SafeW, an encrypted messaging application that Xinbi began using for its merchant and money laundering networks around June 2025, according to the Treasury.\nThe move came as law enforcement attention on Xinbi increased. Users were encouraged to use SafeW to coordinate transactions between buyers and sellers, reducing the marketplace’s reliance on Telegram.\nCambodia-based Anwen Technology developed XinbiPay, which was also known as NewPay. Treasury described the product as a cryptocurrency payment and digital wallet application used by Xinbi.\nTRM Labs had previously documented Xinbi’s move toward SafeW and XinbiPay as the marketplace rebuilt its infrastructure following disruptions to Telegram channels. On-chain data reviewed by the blockchain intelligence company showed a brief drop in Xinbi activity in December 2025 before transaction flows rebounded in early 2026.\nOFAC designated SafeW Technology and Anwen for materially assisting or providing financial, technological or other support to Xinbi.\nThe sanctions require property and interests belonging to the three designated entities that are in the United States or controlled by US persons to be blocked and reported to OFAC. Entities owned 50% or more by blocked persons are subject to the same restrictions.\nTransactions involving their property are generally prohibited for US persons unless exempt or authorized by OFAC.\nXinbi expanded after pressure on rival marketplaces\nXinbi’s development into a major guarantee marketplace accelerated as authorities and technology companies targeted other networks used by Southeast Asian scam operations.\nBlockchain investigators have described guarantee marketplaces as escrow-based platforms where merchants advertise services ranging from money laundering and payment processing to stolen information and infrastructure used by online scammers.\nHuione Guarantee, later known as Haowang Guarantee, had become one of the largest networks operating under the model before Telegram shut down its marketplace in May 2025.\nTreasury said cybercriminals moved parts of their activity toward Xinbi after US authorities targeted Huione Pay. Xinbi continued offering similar services to an overlapping customer base.\nThe UK had already targeted Xinbi on March 26, when the government sanctioned the marketplace over its alleged role in scam and money laundering operations. The restrictions froze assets connected to Xinbi in the UK and cut designated parties off from the country’s financial system.\nThe latest DOJ operation formed part of the Scam Center Strike Force’s campaign against networks supporting overseas scam compounds. The unit was launched in November 2025 to investigate cryptocurrency investment fraud, cyber-enabled fraud, human trafficking and money laundering tied to scam centers.\nAccording to the DOJ, the Strike Force has now restrained approximately $938 million linked to scam money laundering operations.\nIts work has expanded outside Southeast Asia. A Strike Force team recently spent two weeks in Madagascar assisting local authorities with the takedown of 13 scam centers allegedly operated by Chinese organized crime groups.\nInvestigators helped process more than 3,200 electronic devices recovered during the operation and interviewed people among nearly 400 arrests. The DOJ said approximately 30 of those arrested were Chinese leaders of the scam compounds who were later repatriated to China by the Chinese government.\n\n\n\n\n\n                Read more:\n            \n\n                Japan’s 3% bond yield challenges U.S. Treasuries","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":false,"editions":null,"column":"","sentiment":"2","news_tag":"policyRegulatory","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":false,"need_login_tip":false,"code":"91000000","status":"200"}}}