US DOJ Freezes $52 Million in Crypto Linked to Xinbi Guarantee Marketplace

US law enforcement agencies have taken action against cryptocurrency holdings tied to suspected illicit activity on Xinbi Guarantee, a Chinese-language marketplace accused of facilitating scams. Approximately $52 million in digital assets linked to the platform were restrained, according to recent reports.

In addition to restricting access to these funds, authorities seized control of Telegram channels used by Xinbi Guarantee. The move was supported by information from blockchain analytics firm Elliptic, which stated its multi-year monitoring of Xinbi’s wallets contributed to the operation. The US Secret Service was reportedly involved in the enforcement actions.

Coinciding with these developments, the US Department of the Treasury imposed sanctions relating to the Xinbi Guarantee marketplace. Details about the broader scope of Xinbi’s activity suggest the platform may be connected to a substantial volume of cryptocurrency transactions, but not all aspects of its operations have been independently verified.

This coordinated crackdown reflects ongoing efforts by US agencies to disrupt illicit activity involving digital assets, particularly when foreign-language platforms target global users.