Policy · 48 days ago
The US Treasury and OFAC sanctioned Xinbi Guarantee on Wednesday, escalating the takedown of the Chinese scam marketplace and moving against two supporting firms, SafeW Technology and Anwen Technology. Elliptic and the US Secret Service also said they had identified and frozen $52.8 million in cryptoassets linked to the operation, while Telegram removed the main channels tied to it.
Xinbi ran as a criminal marketplace with escrow, messaging, and wallet services that helped scam operators find vendors, move funds, and coordinate. Sanctions make that infrastructure liabilities: wallets can be tagged and frozen later, and counterparties can no longer treat the rails as ordinary service providers.
For compliance teams, exchanges, and wallet operators, the shift is from disruption to lingering containment. Even if the marketplace stays offline, any funds, merchants, or service links that trace back to Xinbi can still surface as freezeable exposure, which raises the cost of cashing out and communicating for similar scam networks.
3 sources covering this story
OFAC Sanctions Chinese Scam Platform Xinbi Guarantee
The US Treasury has placed sanctions on notorious Chinese cybercrime marketplace Xinbi Guarantee
U.S. Disrupts Xinbi Guarantee Scam Marketplace, Freezes $52.8 Million in Crypto
authorities disrupted Xinbi Guarantee and froze $52.8 million in crypto tied to the scam marketplace and its merchant network.
The Record from Recorded Future
US disrupts Xinbi Guarantee marketplace fueling the cyber scam economy
The U.S. government also carried out a seizure of $52.8 million from 52 wallets connected to the platform.
Part of the PlainSec briefing for 2026-09-11