Current outcome
U.S. authorities have restrained over $52 million in crypto, seized Xinbi-linked Telegram channels and wallets, sanctioned Xinbi and service providers SafeW and Anwen, and designated Xinbi a transnational criminal organization, prompting broader disruption among rival laundering networks.
Progress timeline
2 material updates- #01
Secret Service Freezes $52.8 Million in Crypto Tied to Telegram Bazaar Behind Global Scams
U.S. Secret Service froze $52.8 million in USDT linked to Telegram-based scam marketplace Xinbi, which was also designated by OFAC as a significant transnational criminal organization.
Source evidence: Decrypt
- #02
US hit on $24 billion crypto black market sends rival money launderers running for exits
New: federal court authorized seizure of Xinbi-linked Telegram channels on Sept. 7; investigators seized two wallets holding about $12 million and sought restraint of 47 additional addresses; Treasury sanctioned SafeW Technology and Anwen Technology; Xinbi shifted merchant coordination to SafeW and introduced XinbiPay.
State after update: U.S. authorities have restrained over $52 million in crypto, seized Xinbi-linked Telegram channels and wallets, sanctioned Xinbi and service providers SafeW and Anwen, and designated Xinbi a transnational criminal organization, prompting broader disruption among rival laundering networks.
Source evidence: CryptoSlate