United States authorities have restrained more than $52 million in cryptocurrency linked to Xinbi Guarantee and its associated vendor network as part of a coordinated enforcement operation against the scam marketplace.
On Wednesday, the US Justice Department announced that its Scam Center Strike Force seized two wallets used by Xinbi to collect vendor payments, containing approximately $12 million. Law enforcement also sought restraints against 47 additional wallets believed to be connected to money laundering across Xinbi's network.
The DOJ said the US District Court for the District of Columbia authorized the seizure of Telegram channels hosting the marketplace on September 7. According to the unsealed warrant, vendors used these channels to advertise money laundering services, custom scam-investment websites, and recruitment services for scam compounds in Southeast Asia.
The operation targets the financial and communications infrastructure supporting industrial-scale scam centers, extending enforcement beyond individual operators to the marketplaces and service providers that enable these networks to function.
Treasury Sanctions Xinbi and Technology Providers
In coordinated action, the US Treasury Department's Office of Foreign Assets Control designated Xinbi as a significant transnational criminal organization. OFAC also sanctioned Singapore-based SafeW Technology and Cambodia-based Anwen Technology for allegedly providing technological and financial support to Xinbi.
According to the Treasury, Xinbi began moving its merchant and money-laundering networks to SafeW's encrypted messaging application around June 2025 as law enforcement scrutiny intensified. Anwen allegedly developed XinbiPay, also known as NewPay, a crypto wallet and payment application used by the marketplace.
The Treasury said Xinbi has processed over $24 billion in crypto and fiat since around 2022, primarily through Southeast Asia. The platform has been used by North Korean hackers and entities connected to the sanctioned Prince Group.
The sanctions block Xinbi's US property and interests and generally prohibit US persons from transacting with the designated entities.
International Enforcement
This US action follows UK sanctions imposed against Xinbi. On March 26, the UK government sanctioned Xinbi to cut the platform off from crypto access. Under those sanctions, UK assets connected to Xinbi are frozen, and the platform is barred from the country's financial, trade, and travel networks.
