US Authorities Seize Over $52 Million in Crypto Assets from Xinbi Guarantee

The US Department of Justice and the Treasury Department have taken coordinated enforcement action against the illicit marketplace Xinbi Guarantee, seizing over $52 million in crypto assets in a single day, with total restricted assets reaching approximately $938 million. Tether assisted in the investigation. Xinbi is accused of operating via Telegram to provide investment scam websites, money laundering services, and recruiting human trafficking victims for scam compounds in Southeast Asia.