US authorities have restrained more than $52 million in cryptocurrency tied to Xinbi Guarantee and its vendor network while seizing wallets and Telegram channels used by the Chinese-language marketplace.
Summary
- US authorities restrained more than $52 million in crypto linked to Xinbi Guarantee and its vendor network.
- The DOJ seized two wallets holding roughly $12 million and sought restraints against another 47 wallets tied to suspected money laundering.
- US authorities seized Telegram channels where Xinbi vendors advertised money laundering, scam websites and recruitment services for Southeast Asian scam compounds.
- OFAC sanctioned Xinbi, SafeW Technology and Anwen…
