Xinbi | Crypto

The Justice Department seized Xinbi’s Telegram channels and two wallets as investigators pursued 47 additional wallets across its alleged laundering network. [Update, Sept. 10, 2026, 05:00 UTC: Added comments from TRM Labs Global Head of Policy Ari Redbord.] United States authorities restrained more than $52 million in crypto linked to Xinbi Guarantee and its vendor network as part of a coordinated operation against the scam marketplace.  On Wednesday, the US Justice Department said its Scam Center Strike Force seized two wallets used by Xinbi to collect vendor payments containing about $12 million. Law enforcement also sought restraints against 47 additional wallets believed to be connected to money laundering across Xinbi’s network.  Read more

TRM Labs says the $17.9 billion figure reflects gross onchain volume, including internal transfers, not confirmed illicit proceeds. A Chinese-language crypto guarantee marketplace known as Xinbi processed nearly $18 billion in onchain transaction volume despite platform bans and United States enforcement actions aimed at dismantling similar services, according to a new report from TRM Labs. The report said recent crackdowns — reshaped but failed to dismantle — a key layer in crypto-enabled laundering infrastructure. TRM’s analysis showed that Xinbi sustained on-chain activity after Telegram banned clusters of Chinese-language guarantee services in 2025.  The report attributes Xinbi’s resilience to rapid migration to alternative messaging services and the launch of an affiliated wallet, XinbiPay. Onchain data showed wallet activity rebounded in January 2026 as users transitioned to the new setup. Read more