US sanctions Xinbi marketplace and seizes $52M in crypto tied to scam and money-laundering network
first published 2026-09-10T04:05:03Z
US authorities restrained more than $52 million in crypto linked to Xinbi Guarantee and its vendor network. The Justice Department seized wallets and Telegram channels used by the marketplace, and the Treasury sanctioned Xinbi, SafeW Technology, and Anwen Technology for supporting scam and money-laundering operations across Southeast Asia. Officials said Xinbi has processed more than $24 billion since around 2022, and Tether assisted in the investigation.
AI Analysis
The article reports US sanctions, wallet seizures, and a large amount of crypto restrained, all tied to scam and money-laundering activity. This is a concrete enforcement action affecting crypto flows, which can matter to short-term traders.
Expected Investor Sentiment: Bearish
Potential Market Impact: Significant
