Current outcome
U.S. authorities have sanctioned Xinbi Guarantee, seized and restrained over $52 million in crypto, and designated Xinbi as a significant transnational criminal organization while sanctioning related technology providers.
Progress timeline
2 material updates- #01
U.S. Treasury sanctions another widespread cyber-scam hub, Xinbi Guarantee
The U.S. Treasury sanctioned Xinbi Guarantee, a cyber-scam hub involved in widespread fraud, as part of ongoing efforts to curb illicit crypto activity.
Source evidence: CoinDesk
- #02
US sanctions Xinbi scam marketplace, restrains $52M in crypto
The U.S. Justice Department seized two wallets linked to Xinbi Guarantee containing about $12 million and sought restraints on 47 additional wallets, totaling over $52 million in crypto; OFAC designated Xinbi as a significant transnational criminal organization and sanctioned SafeW Technology and Anwen Technology.
State after update: U.S. authorities have sanctioned Xinbi Guarantee, seized and restrained over $52 million in crypto, and designated Xinbi as a significant transnational criminal organization while sanctioning related technology providers.
Source evidence: Cointelegraph