US authorities have taken control of over $52 million in cryptocurrency tied to Xinbi Guarantee and its vendor network, part of a sweeping crackdown on an alleged online scam marketplace.
Coordinated action against scam infrastructure
The US Justice Department reported on Wednesday that its Scam Center Strike Force confiscated two wallets linked to Xinbi, which together held approximately $12 million in crypto. These wallets, authorities said, were used by Xinbi to accept payments from vendors involved in illicit operations.
Federal law enforcement also obtained court approval to restrict access to 47 additional wallets suspected of being connected to broader money laundering activities within Xinbi’s operations. The US District Court for the District of Columbia approved the seizure of Telegram channels hosting the Xinbi marketplace on September 7. Unsealed court documents indicate that vendors advertised money laundering services, custom scam investment websites, and recruitment for scam compounds in Southeast Asia via these channels.
According to the Justice Department, the coordinated initiative aims to dismantle the financial and communications infrastructure behind industrial-scale scam centers, addressing not just individual actors but the enabling marketplaces and technical service providers. The statement credited Tether, a major stablecoin issuer, for its assistance during the investigation.
Mini dictionary: Xinbi Guarantee, an entity accused of facilitating large-scale scam operations by providing payment, recruitment, and money laundering services primarily through cryptocurrency-based infrastructure.
Vendors on Xinbi’s Telegram channels offered services such as money laundering, custom scam investment platforms, and recruitment for scam compounds across Southeast Asia.
Sanctions escalate in US and UK
On the same day, the US Treasury Department designated Xinbi as a significant transnational criminal organization through its Office of Foreign Assets Control (OFAC). Additionally, the Treasury imposed sanctions on SafeW Technology, based in Singapore, and Anwen Technology, located in Cambodia, alleging that both firms provided technological and financial support to Xinbi’s operations.
The Treasury stated that, in response to increased law enforcement attention around June 2025, Xinbi transferred merchant and money-laundering activities onto SafeW’s encrypted messaging platform. Anwen Technology was identified as the developer behind XinbiPay, also known as NewPay, a crypto wallet and payment application favored by Xinbi’s vendor network.
Mini dictionary: OFAC, the US Treasury’s Office of Foreign Assets Control, administers sanctions involving foreign countries and organizations engaged in illicit activity threatening US security.
According to the Treasury, Xinbi has processed more than $24 billion in combined crypto and fiat transactions since 2022, largely through Southeast Asia. Its marketplace, officials said, has reportedly served North Korean hackers and organizations linked to the sanctioned Prince Group.
| Entity | Alleged Role | Sanctioning Body | Date of Sanction |
|---|---|---|---|
| Xinbi Guarantee | Scam marketplace operator | US (OFAC), UK | March 2026 (UK), June 2026 (US) |
| SafeW Technology | Encrypted messaging, money laundering | US (OFAC) | June 2026 |
| Anwen Technology | Payment app developer (XinbiPay/NewPay) | US (OFAC) | June 2026 |
The sanctions freeze Xinbi’s property and interests in the US and generally prohibit American citizens or residents from conducting transactions with the named entities.
In a related development, the United Kingdom imposed its own sanctions on Xinbi on March 26, aiming to cut the platform off from global crypto access. These measures require the freezing of Xinbi-related assets in the UK and deny the platform access to the country’s financial, trade, and travel sectors.
