On September 9, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) imposed sanctions on Xinbi Guarantee, alleging that the platform was widely used by cybercriminals to facilitate online scams, fraud, money laundering, and other criminal activities targeting U.S. persons. OFAC added Xinbi Guarantee, 52 associated cryptocurrency addresses, and two companies that provided critical support to it to the sanctions list.

link: https://home.treasury.gov/news/press-releases/sb0624/

Sanction details

The U.S. Department of the Treasury stated that NewCoin Guarantee operates an illegal online marketplace, serving as a central hub that connects transnational criminal organizations—including operators of fraud…