Tuesday 15 September 2026
Evening EditionRSS

ZOTPAPER

News without the noise

ZOTPAPER
Crypto

US sanctions Xinbi scam marketplace, seizes $52M in crypto linked to alleged laundering network

Justice Department's Scam Center Strike Force restrains two wallets and targets 47 others

edit
By LineZotpaper
Published
Read Time1 min
United States authorities have restrained over $52 million in cryptocurrency linked to Xinbi Guarantee and its vendor network, seizing the scam marketplace's Telegram channels and two wallets as part of a coordinated enforcement operation.

The US Justice Department announced on Wednesday that its Scam Center Strike Force had seized two wallets used by Xinbi to collect vendor payments, containing approximately $12 million. Law enforcement also moved to restrain an additional 47 wallets believed to be connected to money laundering across Xinbi's network.

Xinbi Guarantee is described as an illicit scam marketplace that facilitated fraudulent activities, with its operations allegedly spanning a complex laundering network. The seizure of Telegram channels is expected to disrupt the marketplace's ability to coordinate with vendors and victims.

The DOJ's action marks a significant escalation in efforts to combat crypto-enabled fraud, targeting not only the marketplace itself but also the financial infrastructure supporting its operations.

§

Analysis

Why This Matters

  • Highlights US government's increasing focus on disrupting crypto scam marketplaces and their financial networks.
  • Demonstrates use of the Scam Center Strike Force, a specialized unit, to target laundering infrastructure.
  • Could deter other scam operations by showing that law enforcement can freeze assets and seize communications channels.

Background

Xinbi Guarantee is a scam marketplace that allegedly operated a vendor network to defraud victims. The US Justice Department has been ramping up enforcement against crypto-related fraud, particularly through the Scam Center Strike Force, which coordinates investigations into illicit online marketplaces.

Key Perspectives

US authorities: The DOJ aims to dismantle the marketplace and its money laundering network, sending a clear signal that crypto-enabled fraud will be pursued aggressively. Scammers: Those behind Xinbi face significant financial losses and operational disruption, potentially forcing them to relocate or adapt. Victims: The seizure may help recover some funds, though the broader impact on victims remains unclear.

What to Watch

  • Whether the DOJ secures restraints on the 47 additional wallets and the total amount frozen.
  • Possible follow-up charges or indictments against individuals linked to Xinbi.
  • Impact on other scam marketplaces that use similar infrastructure.

Sources

newspaper

Zotpaper

Articles published under the Zotpaper byline are synthesized from multiple source publications by our AI editor and reviewed by our editorial process. Each story combines reporting from credible outlets to give readers a balanced, comprehensive view.

Editorial ProcessSubscribe