U.S. authorities have targeted Xinbi Guarantee, a Chinese-language marketplace accused of connecting scam operators with vendors offering fake investment websites and money-laundering services. In a September 9 operation, prosecutors announced the seizure of two Xinbi wallets holding about $12 million and steps to restrain 47 additional wallets. They said more than $52 million in cryptocurrency was restrained across the marketplace and its vendor network that day.

According to an unsealed seizure warrant, Xinbi operated through Telegram channels where vendors advertised services to scam centers. The marketplace allegedly held payments until vendors completed their work, functioning as an escrow service for illicit transactions. Investigators say they traced funds from U.S. victims to vendors who posted cryptocurrency addresses for payment. A court authorized seizure of the relevant Telegram channels on September 7.

The Treasury Department simultaneously sanctioned Xinbi Guarantee and two companies it says supported the platform. Those firms developed a private messaging application and a crypto wallet service used by Xinbi's network, according to Treasury. Its estimates indicate the wider marketplace processed the equivalent of more than $24 billion in digital assets and conventional currency since around 2022. That figure describes total platform activity, not the amount seized in September.

The actions combine wallet tracing, channel seizures and sanctions against the businesses supplying technology. The Department of Justice credited Tether with assisting the investigation. Authorities also reported operations against scam compounds abroad as part of the wider effort. The immediate crypto enforcement result was narrower and measurable: control over specified wallets and channels, plus sanctions on the named marketplace and supporting companies.