Tether said it helped US authorities in an enforcement operation that restrained more than $52 million in cryptocurrency connected to an alleged international scam-services network. The September 11 announcement described action against Xinbi Guarantee, a marketplace authorities accuse of supporting fraud operations and money laundering across borders.

Investigators linked funds from American victims to vendors operating through the network. Authorities seized two wallets containing approximately $12 million in vendor payments and sought restraints on 47 additional wallets believed to be connected to laundering activity. Together, those actions accounted for the larger amount restrained.

The alleged marketplace operated through Telegram and connected scam operators with service providers. Authorities said those services included fraudulent investment websites and money laundering. The operation focused on the financial and commercial infrastructure around scam businesses, extending beyond individual messages or websites used to approach potential victims.

Tether's involvement highlights the role stablecoin issuers can play when investigators identify assets moving through their systems. Restraining cryptocurrency can interrupt access to funds, but it is separate from completing a prosecution or returning money to victims. The announcement concerns an enforcement action and the assets affected by it.