Xinbi Sanctions Expose an Industrial Market for Crypto Fraud

Xinbi sanctions expose an industrial market for crypto fraud

US authorities have imposed sanctions and seized communications channels tied to Xinbi Guarantee, a Chinese-language online marketplace accused of supplying the infrastructure behind cryptocurrency investment scams and money laundering. Officials say the broader enforcement effort has restrained $938 million connected to such schemes, including $52 million in digital assets held across the Xinbi network. The action combines financial sanctions, …

OFAC Sanctions Chinese Scam Platform Xinbi Guarantee

The US Treasury has placed sanctions on notorious Chinese cybercrime marketplace Xinbi Guarantee Read more →

North Korea Crypto Laundering Route Through Xinbi Exposed by New US Probe

North Korea-linked actors moved tens of millions in stolen cryptocurrency through vendors operating inside Xinbi Guarantee, according to Chainalysis. The traced funds included proceeds from the Bybit and WazirX exchange hacks. US authorities sanctioned Xinbi on September 9 and restrained more than $52 million across its vendor network. Officials described Xinbi as a Chinese-language marketplace […] Read The Full Article North Korea Crypto Launde…