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{"actor":"system:backfill","investigation_id":"ecd5af39-b437-41bf-8a35-46ab6d07df95","kind":"publish","page_slug":"xinbi-guarantee","published_at":"2026-09-12T23:10:11.968Z","sequence_num":1,"snapshot":{"content_type":"investigation","entity_name":"Xinbi Guarantee","sections":[{"content":"Xinbi Guarantee operated as a peer-to-peer escrow and guarantee marketplace hosted on Telegram, primarily serving Chinese-speaking criminal networks across Southeast Asia. It functioned as an intermediary — holding funds in escrow to assure buyers and sellers in criminal transactions — and hosted more than 4,600 vendors at its peak. The platform settled transactions almost exclusively in USDT stablecoin on the TRON blockchain. Services advertised on the marketplace included money laundering, stolen personal data, fraudulent bank cards, KYC bypass services, fake identity documents, AI deepfake tools, satellite internet equipment (including Starlink gear), custom scam investment websites mimicking legitimate brokerages, malware, and recruitment for Southeast Asian scam compounds. The marketplace also facilitated human trafficking by connecting scam compound operators with vendors supplying forced labor victims. According to Elliptic, the platform self-described as 'Xinbi Co. Ltd, incorporated in Colorado,' presenting itself as an 'investment and capital guarantee group company,' although this incorporation appears to have been used as a legitimacy facade. The platform had approximately 657,643 Telegram subscribers as of September 2026, up from roughly 233,000 at the time of the UK designation in March 2026.","heading":"Platform Overview and Operations","severity":"critical","sources":[{"credibility":2,"name":"US Sanctions Xinbi, Asia's Multibillion-Dollar Cybercriminal Marketplace — Chainalysis","type":"research","url":"https://www.chainalysis.com/blog/ofac-sanctions-xinbi-cybercriminal-crypto-marketplace/"},{"credibility":2,"name":"The US Sanctions Xinbi, One of Southeast Asia's Largest Illicit Crypto Marketplaces — TRM Labs","type":"research","url":"https://www.trmlabs.com/resources/blog/the-us-sanctions-xinbi-one-of-southeast-asias-largest-illicit-crypto-marketplaces"},{"credibility":2,"name":"Xinbi: The $8 Billion Colorado-Incorporated Marketplace for Pig-Butchering Scammers and North Korean Hackers — Elliptic","type":"research","url":"https://www.elliptic.co/blog/xinbi-guarantee"},{"credibility":2,"name":"US Disrupts Xinbi Guarantee Marketplace — The Hacker News","type":"news_article","url":"https://thehackernews.com/2026/09/us-disrupts-xinbi-guarantee-scam.html"}]},{"content":"On September 9, 2026, the U.S. Treasury Department's Office of Foreign Assets Control designated Xinbi Guarantee as a Specially Designated National under Executive Order 13581 (Blocking Property of Transnational Criminal Organizations), as amended by Executive Order 13863 and Executive Order 14390 (Combating Cybercrime, Fraud, and Predatory Schemes, signed March 6, 2026). OFAC's SDN listing included 52 associated cryptocurrency addresses on the TRON network. Two supporting entities were designated simultaneously: Anwen Technology Co., Ltd., a Cambodia-based company that developed the XinbiPay cryptocurrency wallet (also marketed as NewPay), and SafeW Technology Co., Ltd., a Singapore-based company that developed the SafeW encrypted messaging application used by the criminal network. According to the Treasury's press release, the designated entities fall within the same illicit ecosystem as previously sanctioned organizations Jin Bei Group Co., Ltd., and entities affiliated with the Prince Group transnational criminal organization, both of which had been designated in prior actions (October 2025 and June 2026 respectively). The Treasury's press release stated that Xinbi's platform had been used by North Korean state-linked hackers and by other already-designated criminal organizations.","heading":"OFAC Designation and Treasury Action","severity":"critical","sources":[{"credibility":1,"name":"Treasury Cracks Down on Transnational Criminal Organization Behind Cyber Scam Operations — U.S. Department of the Treasury","type":"regulatory","url":"https://home.treasury.gov/news/press-releases/sb0624"},{"credibility":1,"name":"Dismantling Transnational Criminal Organization Xinbi Guarantee — U.S. Department of State","type":"regulatory","url":"https://www.state.gov/releases/office-of-the-spokesperson/2026/09/dismantling-transnational-criminal-organization-xinbi-guarantee"},{"credibility":2,"name":"US Sanctions Xinbi, Asia's Multibillion-Dollar Cybercriminal Marketplace — Chainalysis","type":"research","url":"https://www.chainalysis.com/blog/ofac-sanctions-xinbi-cybercriminal-crypto-marketplace/"}]},{"content":"The DOJ's Scam Center Strike Force, established in November 2025, conducted parallel enforcement actions on and around September 9, 2026. On September 7, 2026, the U.S. District Court for the District of Columbia authorized the seizure of Telegram channels hosting the Xinbi Guarantee marketplace, pursuant to a warrant obtained by U.S. Attorney Jeanine Pirro's office. The Strike Force seized two cryptocurrency wallets used by Xinbi to collect vendor payments, containing approximately $12 million in USDT. Investigators additionally obtained civil restraining orders covering 47 more wallets connected to money laundering activity across the broader Xinbi vendor network. Tether, the issuer of USDT, cooperated with investigators in freezing the targeted wallets. Following the freeze, Xinbi publicly announced it was migrating from USDT to USDD — a TRON-based stablecoin that lacks a central freeze mechanism — having exchanged approximately $2.8 million in USDT into USDD to evade further asset restrictions. In total, $52.8 million across 52 wallets was frozen or restrained, bringing the cumulative total restrained by the Scam Center Strike Force since its founding to approximately $938 million. Concurrently with the Xinbi action, the Strike Force deployed personnel to Madagascar, where local authorities dismantled 13 scam compounds operated by Chinese organized crime networks, arrested approximately 400 people, and seized more than 3,200 electronic devices. Approximately 30 suspected Chinese compound leaders were subsequently repatriated to China.","heading":"DOJ Seizures and Scam Center Strike Force Action","severity":"critical","sources":[{"credibility":1,"name":"Scam Center Strike Force Conducts Seizures of Chinese-Run Illicit Scammer Marketplace — U.S. Department of Justice","type":"court_filing","url":"https://www.justice.gov/usao-dc/pr/scam-center-strike-force-conducts-seizures-chinese-run-illicit-scammer-marketplace-and"},{"credibility":2,"name":"US Disrupts Xinbi Guarantee Marketplace — The Hacker News","type":"news_article","url":"https://thehackernews.com/2026/09/us-disrupts-xinbi-guarantee-scam.html"},{"credibility":2,"name":"US Disrupts Xinbi Guarantee Marketplace — The Record (Recorded Future)","type":"news_article","url":"https://therecord.media/us-disrupts-xinbi-guarantee-marketplace-cybercrime"},{"credibility":2,"name":"Scam Center Strike Force Restrains $52M in Laundered Crypto — Crypto Briefing","type":"news_article","url":"https://cryptobriefing.com/scam-center-strike-force-52m-crypto-madagascar/"},{"credibility":2,"name":"DOJ Restrains $52 Million in Crypto Tied to Chinese Scam Marketplace Xinbi — BeInCrypto","type":"news_article","url":"https://beincrypto.com/xinbi-guarantee-telegram-seizure-crypto-freeze/"}]},{"content":"Multiple blockchain analytics firms have assessed the scale of Xinbi Guarantee's illicit transaction throughput, with figures varying by methodology and reporting date. The U.S. Treasury's official press release cites 'over $24 billion in digital assets and fiat currency' processed since the platform's inception around 2022. Chainalysis reported that the 52 OFAC-designated addresses alone received more than $8.4 billion in stablecoins, while the platform's broader throughput exceeded $24 billion. TRM Labs placed the total throughput figure higher, at more than $36 billion since approximately 2022, based on its own on-chain analysis. Elliptic, which worked with the U.S. Secret Service on the wallet identification, cited approximately $30 billion in total transactions as of September 2026, also characterizing Xinbi as the second-largest illicit online marketplace in history behind only Huione Guarantee. During the UK's March 2026 designation, Chainalysis had reported $19.9 billion processed between 2021 and 2025. Q4 2024 was the first quarter in which Xinbi inflows exceeded $1 billion, indicating rapid growth in the period prior to its designation. The XinbiPay hot wallet alone processed $94.6 million in withdrawal activity in December 2025 alone, per TRM Labs.","heading":"Transaction Volume and Blockchain Analytics","severity":"critical","sources":[{"credibility":1,"name":"Treasury Cracks Down on Transnational Criminal Organization — U.S. Department of the Treasury","type":"regulatory","url":"https://home.treasury.gov/news/press-releases/sb0624"},{"credibility":2,"name":"US Sanctions Xinbi, Asia's Multibillion-Dollar Cybercriminal Marketplace — Chainalysis","type":"research","url":"https://www.chainalysis.com/blog/ofac-sanctions-xinbi-cybercriminal-crypto-marketplace/"},{"credibility":2,"name":"The US Sanctions Xinbi, One of Southeast Asia's Largest Illicit Crypto Marketplaces — TRM Labs","type":"research","url":"https://www.trmlabs.com/resources/blog/the-us-sanctions-xinbi-one-of-southeast-asias-largest-illicit-crypto-marketplaces"},{"credibility":2,"name":"Xinbi: The $8 Billion Colorado-Incorporated Marketplace — Elliptic","type":"research","url":"https://www.elliptic.co/blog/xinbi-guarantee"},{"credibility":2,"name":"UK Sanctions Xinbi Guarantee as Crypto Scam Laundering Hub Processes $19.9 Billion — AML Network","type":"news_article","url":"https://amlnetwork.org/aml-news/uk-sanctions-xinbi-guarantee-as-crypto-scam-laundering-hub-processes-19-9-billion/"}]},{"content":"Chainalysis reported that North Korea-linked threat actors moved tens of millions of dollars in stolen cryptocurrency through Xinbi's vendor network. According to Chainalysis, DPRK-affiliated wallets used specialized vendors on Xinbi known as 'Black U' launderers. These vendors accept traceable stolen funds — including proceeds from major exchange hacks — and in return provide stablecoins sourced from separate illicit revenue streams such as pig-butchering and romance scam proceeds, effectively swapping tainted coins for less-traceable 'clean' stablecoins. Chainalysis specifically identified funds linked to the Bybit hack (a $1.5 billion breach attributed to North Korea's Lazarus Group) and the WazirX hack ($235 million theft) as having moved through this mechanism. OFAC's own designation language confirmed that 'Xinbi's platform has been used by North Korean hackers.' TRM Labs separately noted that the platform likely operated from the Golden Triangle region spanning Myanmar, Thailand, and Laos, and was used by entities connected to scam compounds in that zone.","heading":"North Korea Nexus and 'Black U' Laundering","severity":"critical","sources":[{"credibility":2,"name":"Chainalysis on X — DPRK-linked actors used Xinbi's Black U service","type":"social_media","url":"https://x.com/chainalysis/status/2097789664723919170"},{"credibility":2,"name":"Chainalysis: North Korean Hackers Use Xinbi Platform's 'Black U' Service — PANews","type":"news_article","url":"https://panews.io/articles/01a08a6e-116f-7469-8a7e-05e30d0acef7"},{"credibility":2,"name":"North Korea Crypto Laundering Route Through Xinbi Exposed by US Probe — CoinEdition","type":"news_article","url":"https://coinedition.com/north-korea-crypto-laundering-route-through-xinbi-exposed-by-new-us-probe/"},{"credibility":1,"name":"Treasury Cracks Down on Transnational Criminal Organization — U.S. Department of the Treasury","type":"regulatory","url":"https://home.treasury.gov/news/press-releases/sb0624"}]},{"content":"Xinbi Guarantee operated in parallel with, and partially succeeded, Huione Guarantee (later known as Haowang Guarantee), the Cambodia-linked illicit marketplace that Telegram shut down in May 2025 following earlier U.S. Treasury and FinCEN actions. According to reporting by The Record and CoinDesk, a portion of the criminal customer base migrated to Xinbi after U.S. authorities targeted Huione Pay. Elliptic characterized Huione Guarantee as having processed over $27 billion in transactions between 2021 and 2025 — making it the largest such marketplace — with Xinbi ranked second. The two marketplaces share similar structures: both operated via Telegram as Chinese-language escrow services, both settled in USDT on TRON, and both served overlapping networks of scam compound operators in Southeast Asia. The Treasury's September 9, 2026 action against Xinbi was described by officials as part of an escalating campaign against the entire ecosystem of illicit cyber-scam infrastructure in the region.","heading":"Relationship to Huione Guarantee and the Broader Illicit Marketplace Ecosystem","severity":"high","sources":[{"credibility":2,"name":"US Treasury Sanctions Another Widespread Cyber-Scam Hub, Xinbi Guarantee — CoinDesk","type":"news_article","url":"https://www.coindesk.com/policy/2026/09/09/u-s-treasury-sanctions-another-widespread-cyber-scam-hub-xinbi-guarantee"},{"credibility":2,"name":"US Disrupts Xinbi Guarantee Marketplace — The Record (Recorded Future)","type":"news_article","url":"https://therecord.media/us-disrupts-xinbi-guarantee-marketplace-cybercrime"},{"credibility":2,"name":"Xinbi: The $8 Billion Colorado-Incorporated Marketplace — Elliptic","type":"research","url":"https://www.elliptic.co/blog/xinbi-guarantee"},{"credibility":2,"name":"Treasury Sanctions a $24 Billion Scam Marketplace as It Flees Tether for a Rival Stablecoin — Unchained","type":"news_article","url":"https://unchainedcrypto.com/treasury-sanctions-a-24-billion-scam-marketplace-as-it-flees-tether-for-a-rival-stablecoin/"}]},{"content":"The United Kingdom's Foreign, Commonwealth and Development Office was the first national government to sanction Xinbi Guarantee, doing so on March 26, 2026, under the UK Global Human Rights sanctions regime. TRM Labs noted this as the first time any country had targeted such a Telegram-based criminal guarantee marketplace under that authority. At the time of the UK designation, Chainalysis reported the platform had processed $19.9 billion in transactions between 2021 and 2025. The UK action preceded the U.S. OFAC designation by approximately six months and covered Xinbi and associated entities connected to what the FCDO described as illicit cryptoasset infrastructure. The UK's September 2026 updated designation coincided with the U.S. OFAC action.","heading":"UK FCDO Designation (March 2026)","severity":"critical","sources":[{"credibility":1,"name":"UK Becomes First Country to Sanction Xinbi, One of Southeast Asia's Largest Illicit Crypto Marketplaces — TRM Labs","type":"regulatory","url":"https://www.trmlabs.com/resources/blog/uk-becomes-first-country-to-sanction-xinbi-one-of-southeast-asias-largest-illicit-crypto-marketplaces"},{"credibility":2,"name":"UK Government Announces Sanctions Against Xinbi — Crowdfund Insider","type":"news_article","url":"https://www.crowdfundinsider.com/2026/03/269415-uk-government-announces-sanctions-against-xinbi-a-chinese-language-crypto-marketplace-in-escalating-fight-against-scam-networks/"},{"credibility":2,"name":"UK Sanctions Xinbi Marketplace and Entities Connected to #8 Park — Elliptic","type":"research","url":"https://www.elliptic.co/insights/uk-sanctions-xinbi-marketplace-and-entities-connected-to-8-park-in-latest-crackdown-on-illicit-cryptoassets/"},{"credibility":2,"name":"UK Government Designates Chinese Scam Infrastructure Xinbi — Chainalysis","type":"research","url":"https://www.chainalysis.com/blog/xinbi-designation-chinese-language-crypto-scam-infrastructure/"}]},{"content":"Xinbi Guarantee served as core infrastructure for pig-butchering scams — long-duration romance fraud schemes in which victims are cultivated through fake relationships and gradually persuaded to invest in fraudulent cryptocurrency platforms. Vendors on the marketplace explicitly advertised willingness to launder pig-butchering proceeds into 'white capital,' i.e., funds that appear clean in the conventional financial system. The platform also facilitated recruitment of trafficked individuals to staff scam compounds in Southeast Asia — primarily in Myanmar, Cambodia, Thailand, and Laos — where workers are held under conditions of forced labor. OFAC's designation language referenced the platform's facilitation of extortion and human rights abuses in connection with scam center operations. The DOJ's parallel Madagascar operation, conducted concurrently with the Xinbi seizures, dismantled 13 scam compounds run by Chinese organized crime networks, reinforcing the operational link between online marketplaces like Xinbi and physical scam compounds.","heading":"Pig-Butchering, Romance Scams, and Human Trafficking","severity":"critical","sources":[{"credibility":1,"name":"Treasury Cracks Down on Transnational Criminal Organization — U.S. Department of the Treasury","type":"regulatory","url":"https://home.treasury.gov/news/press-releases/sb0624"},{"credibility":2,"name":"Southeast Asia's Illicit Crypto Marketplace Xinbi Sanctioned — Crowdfund Insider","type":"news_article","url":"https://www.crowdfundinsider.com/2026/09/309293-southeast-asias-illicit-crypto-marketplace-xinbi-sanctioned-by-us-authorities/"},{"credibility":2,"name":"Online Scam Hubs in Madagascar Smashed With US Help — Gulf News","type":"news_article","url":"https://gulfnews.com/world/africa/us-says-it-helped-crack-madagascar-online-scam-centers-1.500669041"},{"credibility":2,"name":"Xinbi: The $8 Billion Colorado-Incorporated Marketplace — Elliptic","type":"research","url":"https://www.elliptic.co/blog/xinbi-guarantee"}]}],"sources_used":[{"credibility":1,"name":"Treasury Cracks Down on Transnational Criminal Organization Behind Cyber Scam Operations — U.S. Department of the Treasury","type":"regulatory","url":"https://home.treasury.gov/news/press-releases/sb0624"},{"credibility":1,"name":"Dismantling Transnational Criminal Organization Xinbi Guarantee — U.S. Department of State","type":"regulatory","url":"https://www.state.gov/releases/office-of-the-spokesperson/2026/09/dismantling-transnational-criminal-organization-xinbi-guarantee"},{"credibility":1,"name":"Scam Center Strike Force Conducts Seizures of Chinese-Run Illicit Scammer Marketplace — U.S. Department of Justice","type":"court_filing","url":"https://www.justice.gov/usao-dc/pr/scam-center-strike-force-conducts-seizures-chinese-run-illicit-scammer-marketplace-and"},{"credibility":2,"name":"US Sanctions Xinbi, Asia's Multibillion-Dollar Cybercriminal Marketplace — Chainalysis","type":"research","url":"https://www.chainalysis.com/blog/ofac-sanctions-xinbi-cybercriminal-crypto-marketplace/"},{"credibility":2,"name":"UK Government Designates Chinese Scam Infrastructure Xinbi — Chainalysis","type":"research","url":"https://www.chainalysis.com/blog/xinbi-designation-chinese-language-crypto-scam-infrastructure/"},{"credibility":2,"name":"The US Sanctions Xinbi, One of Southeast Asia's Largest Illicit Crypto Marketplaces — TRM Labs","type":"research","url":"https://www.trmlabs.com/resources/blog/the-us-sanctions-xinbi-one-of-southeast-asias-largest-illicit-crypto-marketplaces"},{"credibility":2,"name":"UK Becomes First Country to Sanction Xinbi — TRM Labs","type":"research","url":"https://www.trmlabs.com/resources/blog/uk-becomes-first-country-to-sanction-xinbi-one-of-southeast-asias-largest-illicit-crypto-marketplaces"},{"credibility":2,"name":"Xinbi: The $8 Billion Colorado-Incorporated Marketplace for Pig-Butchering Scammers and North Korean Hackers — Elliptic","type":"research","url":"https://www.elliptic.co/blog/xinbi-guarantee"},{"credibility":2,"name":"UK Sanctions Xinbi Marketplace and Entities Connected to #8 Park — Elliptic","type":"research","url":"https://www.elliptic.co/insights/uk-sanctions-xinbi-marketplace-and-entities-connected-to-8-park-in-latest-crackdown-on-illicit-cryptoassets/"},{"credibility":2,"name":"US Disrupts Xinbi Guarantee Marketplace Fueling the Cyber Scam Economy — The Record (Recorded Future)","type":"news_article","url":"https://therecord.media/us-disrupts-xinbi-guarantee-marketplace-cybercrime"},{"credibility":2,"name":"US Treasury Sanctions Another Widespread Cyber-Scam Hub, Xinbi Guarantee — CoinDesk","type":"news_article","url":"https://www.coindesk.com/policy/2026/09/09/u-s-treasury-sanctions-another-widespread-cyber-scam-hub-xinbi-guarantee"},{"credibility":2,"name":"US Disrupts Xinbi Guarantee Scam Marketplace, Freezes $52.8 Million in Crypto — The Hacker News","type":"news_article","url":"https://thehackernews.com/2026/09/us-disrupts-xinbi-guarantee-scam.html"},{"credibility":2,"name":"DOJ Restrains $52 Million in Crypto Tied to Chinese Scam Marketplace Xinbi — BeInCrypto","type":"news_article","url":"https://beincrypto.com/xinbi-guarantee-telegram-seizure-crypto-freeze/"},{"credibility":2,"name":"Scam Center Strike Force Restrains $52M in Laundered Crypto in One Day — Crypto Briefing","type":"news_article","url":"https://cryptobriefing.com/scam-center-strike-force-52m-crypto-madagascar/"},{"credibility":2,"name":"US Seizes $52M in Crypto and Telegram Channels Linked to Xinbi Guarantee — The Crypto Times","type":"news_article","url":"https://www.cryptotimes.io/2026/09/10/us-seizes-52m-in-crypto-and-telegram-channels-linked-to-xinbi-guarantee/"},{"credibility":2,"name":"Treasury Sanctions a $24 Billion Scam Marketplace as It Flees Tether for a Rival Stablecoin — Unchained","type":"news_article","url":"https://unchainedcrypto.com/treasury-sanctions-a-24-billion-scam-marketplace-as-it-flees-tether-for-a-rival-stablecoin/"},{"credibility":2,"name":"Southeast Asia's Illicit Crypto Marketplace Xinbi Sanctioned By US Authorities — Crowdfund Insider","type":"news_article","url":"https://www.crowdfundinsider.com/2026/09/309293-southeast-asias-illicit-crypto-marketplace-xinbi-sanctioned-by-us-authorities/"},{"credibility":2,"name":"UK Government Announces Sanctions Against Xinbi — Crowdfund Insider (March 2026)","type":"news_article","url":"https://www.crowdfundinsider.com/2026/03/269415-uk-government-announces-sanctions-against-xinbi-a-chinese-language-crypto-marketplace-in-escalating-fight-against-scam-networks/"},{"credibility":2,"name":"US Sanctions Xinbi, Restrains $52M in Crypto — CoinTelegraph","type":"news_article","url":"https://cointelegraph.com/news/us-sanctions-xinbi-restrains-52m-crypto"},{"credibility":2,"name":"North Korea Crypto Laundering Route Through Xinbi Exposed — CoinEdition","type":"news_article","url":"https://coinedition.com/north-korea-crypto-laundering-route-through-xinbi-exposed-by-new-us-probe/"},{"credibility":2,"name":"Chainalysis on X — DPRK Black U laundering through Xinbi","type":"social_media","url":"https://x.com/chainalysis/status/2097789664723919170"},{"credibility":2,"name":"Online Scam Hubs Madagascar Smashed With US Help — Gulf News","type":"news_article","url":"https://gulfnews.com/world/africa/us-says-it-helped-crack-madagascar-online-scam-centers-1.500669041"},{"credibility":2,"name":"UK Sanctions Xinbi Guarantee as Crypto Scam Laundering Hub — AML Network","type":"news_article","url":"https://amlnetwork.org/aml-news/uk-sanctions-xinbi-guarantee-as-crypto-scam-laundering-hub-processes-19-9-billion/"},{"credibility":2,"name":"SlowMist: U.S. OFAC and DOJ Join Forces to Crack Down on Xinbi Guarantee — Medium","type":"research","url":"https://slowmist.medium.com/u-s-ofac-and-doj-join-forces-to-crack-down-on-xinbi-guarantee-restricting-more-than-52-million-d76b9f9b1a1a"}],"summary":"Xinbi Guarantee is a Chinese-language illicit online marketplace that operated via Telegram, functioning as an escrow service connecting transnational criminal syndicates with vendors selling scam infrastructure, money laundering services, stolen data, and human trafficking recruitment. On September 9, 2026, the U.S. Treasury's OFAC designated Xinbi Guarantee as a significant transnational criminal organization under Executive Order 13581, and the DOJ's Scam Center Strike Force seized two cryptocurrency wallets and obtained restraining orders covering 47 additional wallets, together freezing approximately $52.8 million. Blockchain analytics firms place the platform's total transaction throughput at between $24 billion and $36 billion since approximately 2022.","timeline":[{"date":"2022-01-01","event":"Xinbi Guarantee reportedly begins operations as a Chinese-language Telegram-based escrow marketplace for criminal services, with TRON/USDT as primary settlement currency. Approximate date per Treasury and Chainalysis.","source":"U.S. Department of the Treasury press release","source_url":"https://home.treasury.gov/news/press-releases/sb0624"},{"date":"2024-10-01","event":"Q4 2024 becomes the first quarter in which Xinbi's inflows exceed $1 billion, indicating rapid expansion.","source":"Elliptic research report","source_url":"https://www.elliptic.co/blog/xinbi-guarantee"},{"date":"2025-11-01","event":"U.S. Department of Justice establishes the Scam Center Strike Force to target transnational scam infrastructure.","source":"The Hacker News","source_url":"https://thehackernews.com/2026/09/us-disrupts-xinbi-guarantee-scam.html"},{"date":"2025-12-01","event":"XinbiPay hot wallet processes $94.6 million in withdrawal activity in December 2025 alone, per TRM Labs analysis.","source":"TRM Labs","source_url":"https://www.trmlabs.com/resources/blog/the-us-sanctions-xinbi-one-of-southeast-asias-largest-illicit-crypto-marketplaces"},{"date":"2026-03-26","event":"UK Foreign, Commonwealth and Development Office becomes the first government to sanction Xinbi Guarantee, designating it under the UK Global Human Rights sanctions regime. Chainalysis reports $19.9 billion in transactions at time of UK designation.","source":"TRM Labs / Crowdfund Insider","source_url":"https://www.trmlabs.com/resources/blog/uk-becomes-first-country-to-sanction-xinbi-one-of-southeast-asias-largest-illicit-crypto-marketplaces"},{"date":"2026-09-07","event":"U.S. District Court for the District of Columbia authorizes warrant to seize Telegram channels hosting Xinbi Guarantee, obtained by U.S. Attorney Jeanine Pirro's office.","source":"The Record (Recorded Future)","source_url":"https://therecord.media/us-disrupts-xinbi-guarantee-marketplace-cybercrime"},{"date":"2026-09-09","event":"OFAC designates Xinbi Guarantee, Anwen Technology Co., Ltd., and SafeW Technology Co., Ltd. as significant transnational criminal organizations on the SDN list, citing 52 associated cryptocurrency addresses. DOJ Scam Center Strike Force simultaneously seizes two wallets (~$12M) and obtains restraining orders on 47 additional wallets. Total frozen/restrained: $52.8 million.","source":"U.S. Department of the Treasury","source_url":"https://home.treasury.gov/news/press-releases/sb0624"},{"date":"2026-09-09","event":"Following Tether's cooperation in freezing USDT wallets, Xinbi publicly announces migration from USDT to USDD stablecoin and converts approximately $2.8 million in USDT to USDD to evade further freezes.","source":"Treasury Sanctions a $24 Billion Scam Marketplace — Unchained","source_url":"https://unchainedcrypto.com/treasury-sanctions-a-24-billion-scam-marketplace-as-it-flees-tether-for-a-rival-stablecoin/"},{"date":"2026-09-09","event":"Concurrently, DOJ Scam Center Strike Force operation in Madagascar results in dismantlement of 13 scam compounds, approximately 400 arrests by local authorities, and repatriation of approximately 30 suspected Chinese compound leaders to China.","source":"Crypto Briefing / Gulf News","source_url":"https://cryptobriefing.com/scam-center-strike-force-52m-crypto-madagascar/"},{"date":"2026-09-09","event":"Chainalysis publishes findings that DPRK-linked threat actors used Xinbi's 'Black U' vendor services to launder tens of millions in stolen cryptocurrency, including funds traced to the Bybit and WazirX exchange hacks.","source":"Chainalysis blog","source_url":"https://www.chainalysis.com/blog/ofac-sanctions-xinbi-cybercriminal-crypto-marketplace/"}]},"v":1}