US Sanctions Xinbi and Seizes Over $52 Million in Cryptocurrency

The U.S. government has sanctioned the Xinbi Guarantee marketplace, designating it as a significant transnational criminal organization for facilitating money laundering and supporting fraudulent centers. Authorities seized over $52 million in cryptocurrency linked to the platform, including $12 million from two crypto wallets used for payment processing. The U.S. Department of Justice collaborated with Tether during the investigation.