DOJ · Tether · U.S. Treasury · Decrypt
Secret Service Freezes $52.8 Million in Crypto Tied to Telegram Bazaar Behind Global Scams
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The U.S. Secret Service froze $52.8 million in cryptocurrency linked to Xinbi Guarantee on September 8, a Chinese-language marketplace that runs on Telegram and sells the tools scammers need to defraud people worldwide.
Key facts
- Xinbi Guarantee’s business address, which had been activated on September 8, 2026, has been frozen again. 1.8 million $USDT has already escaped, with only 37,839 $USDT frozen
- Wednesday's action was part of a bigger day for the DOJ's Scam Center Strike Force, which also deployed agents to Madagascar to help local authorities take down 13 Chinese-run scam compounds
- The U.S. Secret Service froze $52.8 million in cryptocurrency linked to Xinbi Guarantee on September 8, a Chinese-language marketplace that runs on Telegram and sells the tools scammers need
- Only Huione Guarantee moved more, processing $31 billion before Telegram shut it down in May 2025 after years of exposure by Elliptic
Summary
The U.S. Secret Service froze $52.8 million in USDT held across 52 wallets tied to Xinbi Guarantee on September 8, using intelligence from blockchain analytics firm Elliptic. Treasury's OFAC designated Xinbi a "significant transnational criminal organization" the same day, and the DOJ's Scam Center Strike Force says it has now seized $938 million since launching in November 2025. The government agents worked with Blockchain analytics firm Elliptic to identify and freeze the funds. Fifty-two wallets were frozen beginning at 8am UTC on Sept 8, all holding USDT, Tether's dollar-pegged stablecoin.