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US sanctions Xinbi scam marketplace, restrains $52M in crypto
The Justice Department seized two Xinbi wallets holding about $12 million and sought court restraints on 47 additional wallets tied to alleged laundering.
Cointelegraph reports that the U.S. Justice Department moved against Xinbi Guarantee and its vendor network, restraining more than $52 million in cryptocurrency linked to the alleged scam marketplace.
As part of the effort, the Scam Center Strike Force seized two wallets used by Xinbi to collect vendor payments totaling about $12 million, while investigators pursued court restraints for 47 additional wallets believed to be connected to money laundering across the network.
The DOJ said a U.S. District Court in Washington, D.C. authorized the seizure of Xinbi-hosting Telegram channels on Sept. 7, according to an unsealed warrant describing the channels as supporting money laundering advertisements, scam-investment websites, and recruitment services for scam centers in Southeast Asia.
The Treasury Department said OFAC designated Xinbi as a significant transnational criminal organization and sanctioned SafeW Technology and Anwen Technology for alleged technological and financial support, noting Xinbi shifted its merchant and money-laundering networks to SafeW’s encrypted messaging application around June 2025.