Back Infosecurity-Magazine OFAC Sanctions Chinese Scam Platform Xinbi Guarantee
The US government has followed the UK in sanctioning a notorious Chinese-language marketplace used to support fraud, money laundering and other criminal activity.
Xinbi Guarantee connects scam center operators in Southeast Asia and elsewhere, as well as other transnational crime syndicates, to merchants providing financial services, technology and other offerings.
The US Treasury estimated that the marketplace has processed over $24bn in digital currency and fiat currency since its inception in 2022.
“Scam centers in Southeast Asia steal billions of dollars from American victims each year,” said Treasury secretary Scott Bessent.
“The Trump administration is united in its efforts to dismantle these overseas criminal enterprises, and Treasury will continue using its tools to disrupt the networks behind this egregious fraud and protect Americans.”
According to blockchain analytics firm TRM Labs, Xinbi Guarantee merchants offer listings for stolen personal data, fake identity documents, AI deepfake tools, satellite internet equipment, and over-the-counter crypto exchanges.
“Its services support scam operations that rely on trafficked foreign nationals, often lured with the promise of legitimate employment, to carry out online fraud at industrial scale,” it wrote.
The firm claimed the site may be even more popular than the US government’s estimates suggest, putting the figure for transactions at over $36bn.
Daily inflows nearly doubled between May and December 2025, with the marketplace benefitting from the decline of sanctioned Huione Guarantee and Tudou Guarantee , TRM Labs added .
Going After the Enablers
The Treasury’s Office of Foreign Assets Control (OFAC) also sanctioned two entities it claimed support Xinbi’s core operations.
These are: Singapore-based end-to-end encrypted messaging app provider SafeW Technology, and Cambodia-headquartered Anwen Technology, which produces the XinbiPay digital wallet app (aka NewPay).
Announced at the same time as the sanctions, the US Secret Service and London-based blockchain intelligence firm Elliptic said they’d identified and frozen $52.8m in cryptoassets linked to Xinbi Guarantee.
“Merchants and users of these services will now be operating with the knowledge that their wallets may be identified and frozen at any time,” Elliptic said. “This uncertainty undermines the core mechanism these marketplaces rely on to function.”
In fact, the firm claimed that Xinbi Guarantee now appears to be offline, with Telegram also deleting the main channels associated with the marketplace and banning usernames linked to it.
The UK sanctioned Xinbi Guarantee back in March.
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