US seizes $52M in crypto from global scam marketplace

On September 9, 2026, United States authorities announced widespread enforcement actions against a massive Chinese-language illicit marketplace known as Xinbi Guarantee, resulting in the seizure and restraint of over $52 million in cryptocurrency in a single day.

The enforcement involved multiple federal agencies targeting the infrastructure and funds of the sprawling network. The U.S. Secret Service froze wallets containing $52.8 million in Tether's USDT stablecoin. In addition to seizing two cryptocurrency wallets holding approximately $12 million used for payment collection, law enforcement sought to restrain another 47 wallets associated with money laundering.

The U.S. Treasury's Office of Foreign Assets Control (OFAC) also placed 52 TRON (TRX) addresses linked to Xinbi onto the Specially Designated Nationals (SDN) List. According to officials, these 52 designated addresses alone had received more than $8.4 billion in stablecoins.

Massive Transaction Volumes

Emerging around 2022, Xinbi Guarantee grew to serve over 650,000 users. Blockchain analytics firm Elliptic estimated that the marketplace facilitated $30 billion in transactions since its launch, while federal authorities stated the platform processed over $24 billion in combined digital assets and fiat currency.

The network provided laundering services for various malicious entities, including North Korean (DPRK-linked) actors. These operatives used Xinbi to launder tens of millions of dollars stolen during the $1.5 billion Bybit breach and the $235 million WazirX theft.

To disrupt the platform's communication infrastructure, a federal court in the District of Columbia authorized the seizure of Xinbi's Telegram channels on September 7, 2026. Authorities noted that the marketplace had already begun shifting its network to the SafeW messaging app around June 2025.

Targeting Transnational Crime

U.S. Attorney for the District of Columbia Jeanine Ferris Pirro underscored the threat the marketplace posed to U.S. citizens. “This is not a distant overseas crime story,” Pirro stated. “It is an industrial extraction of American savings run by Chinese transnational criminal enterprises and platforms.”

Pirro highlighted the accessibility of the illicit services, warning, “If Chinese organized crime can buy a custom website and a money laundering service the way you order takeout, then every American with a retirement account is in the blast radius.” She added, “My Strike Force will continue to dismantle Chinese organized crime, those who facilitate it, and protect Main Street America.”

The enforcement action brings the total funds restrained by the Scam Center Strike Force to approximately $938 million. The Strike Force's efforts recently extended to Madagascar, where personnel deployed to assist in taking down 13 Chinese-run scam compounds.

U.S. Treasury Secretary Scott Bessent echoed the severe impact of these operations. “Scam centers in Southeast Asia steal billions of dollars annually from U.S. victims,” Bessent noted, emphasizing that the Treasury will continue deploying its tools to disrupt these overseas networks. Summarizing the enforcement, TRM Labs Global Head of Policy Ari Redbord stated, “OFAC sanctioned Xinbi for good reason,”