U.S. authorities restrain $52M in crypto tied to Xinbi Guarantee and seize related wallets and Telegram channels

U.S. authorities said they restrained more than $52 million in cryptocurrency connected to Xinbi Guarantee and a related vendor network, while seizing wallets and Telegram channels used by the Chinese-language marketplace ^[1].

Cointelegraph reported that the Justice Department seized Xinbi’s Telegram channels and two wallets, and that investigators pursued 47 additional wallets across its alleged laundering network ^[2].

Blockonomi and MoneyCheck characterized Xinbi Guarantee as a Chinese-language digital marketplace and said federal authorities sanctioned it; Blockonomi further reported that the operation handled more than $24 billion in digital assets and traditional currency since its 2022 launch, with activity concentrated in Southeast Asia and that two wallets holding $12 million were confiscated, with court orders obtained for 47 additional wallets, bringing total seized assets beyond $52 million ^{[3] [4]}.