On September 9, 2026, the U.S. Treasury’s Office of Foreign Assets Control (OFAC) designated Xinbi Guarantee a significant transnational criminal organization under Executive Order 13581, as amended. The Chinese-language platform runs an illicit online marketplace, long active on Telegram, that Treasury says supports cyber scams, fraud, money laundering, and related crime targeting Americans.
OFAC also designated Singapore-based SafeW Technology Co., Ltd. and Cambodia-based Anwen Technology Co., Ltd. for materially supporting Xinbi. Treasury says that around June 2025 Xinbi began moving merchant and laundering coordination onto SafeW, a private messaging app, and launched XinbiPay (also called NewPay), a crypto wallet built by Anwen.
Treasury states that since about 2022 Xinbi’s marketplace has processed the equivalent of over $24 billion in digital assets and fiat, mainly facilitating activity in Southeast Asia. The release says the platform has been used by North Korean hackers and by entities tied to the previously designated Prince Group TCO. OFAC framed the step as complementary to the United Kingdom’s March 26, 2026 sanctions on Xinbi, and as following earlier U.S. actions against the Prince Group and FinCEN measures on Huione Group.
In parallel, the U.S. Secret Service froze $52.8 million in USDT across 52 wallets linked to Xinbi, with the freeze beginning at 08:00 UTC on September 8, 2026, using intelligence from blockchain analytics firm Elliptic. Decrypt, citing the unsealed DOJ materials, reported that two of those wallets—about $12 million—were seized under warrant, with the remainder frozen pending further action. Treasury said the designations were coordinated with the Justice Department’s Scam Center Strike Force, which also seized infrastructure and digital-asset wallets used by Xinbi.
Elliptic describes Xinbi as the second-largest illicit online marketplace it has tracked after Huione Guarantee, which it put near $31 billion before Telegram shutdown of that market in May 2025. Xinbi publicly called the freeze “arbitrary” and said it would compensate customers, according to Decrypt. Primary figures above follow Treasury and Elliptic; secondary on-chain migration claims are omitted pending firmer confirmation.
What would change the reading: a Treasury correction of the $24 billion volume figure; court filings that shrink or expand the $52.8 million freeze or the ~$12 million seized subset; or evidence that SafeW/Anwen links were misattributed.
U.S. Treasury OFAC (Sep 9, 2026); Elliptic; Decrypt