Full Breakdown
U.S. Attorney Targets Xinbi Guarantee in Crypto Scam Crackdown
9/10/2026, 3:16:00 AM
Core Event: Sanctions and Seizures Against Xinbi Guarantee
U.S. Attorney for the District of Columbia Jeanine Pirro announced sanctions on the online platform Xinbi Guarantee, describing it as an “illicit scamming marketplace.” The Treasury Department designated Xinbi a transnational criminal organization, prohibiting U.S. persons from doing business with it and requiring blocked assets to be reported to the Office of Foreign Assets Control (OFAC). Prosecutors obtained a federal court order to seize the Telegram channels used by Xinbi, and the Scam Center Strike Force restrained $52 million in cryptocurrency flowing through the network. Federal authorities also seized $8 billion in cryptocurrency linked to broader “intercontinental scam compound” operations.
Background & Context: Xinbi’s Operations
Xinbi operated primarily in Chinese on the messaging app Telegram, where vendors marketed services such as custom-built fake investment websites, money-laundering tools, and recruitment of trafficking victims for scam compounds in Southeast Asia. Officials said the platform facilitated schemes that lured Americans into fraudulent cryptocurrency investments, with funds laundered through the Xinbi network before reaching anonymous recipients. The Treasury’s designation linked Xinbi to North Korean hackers and other criminal syndicates.
Official Statements & Responses
Pirro emphasized that the crackdown aims to disrupt evolving criminal methods, noting that “old crimes are being committed in new ways.” She warned the public to avoid unsolicited cryptocurrency offers and highlighted cooperation with the FBI, which traveled to Madagascar to shut down 13 alleged scam centers and assisted local authorities in arresting 500 individuals, including 30 Chinese leaders who were repatriated to China. The U.S. government reported that it has restrained $938 million tied to similar schemes to date.
Data & Statistics
- $800,000 loss reported by a Virginia resident (Secret Service).
- $52 million restrained in cryptocurrency by the Scam Center Strike Force.
- $8 billion seized in a separate federal operation targeting intercontinental scam compounds.
- $938 million total restrained by the U.S. government in related scams.
- 500 arrests and 30 repatriated Chinese leaders following the Madagascar operation.
- 13 scam centers shut down in Madagascar.
Verbatim Quotes
- “Our team was able to follow the funds as they were laundered through the Xinbi Guarantee Network,” — Tara McLeese
- “It's where vendors market their services to scam us,” — Columbia Jeanine Pirro
- “It is a double protection to make sure that Americans are scammed properly and unwittingly,” — Columbia Jeanine Pirro
- “Old crimes are being committed in new ways,” — Columbia Jeanine Pirro
- “They've got this figured out, and it took us a while to understand where it was coming from, who was doing it, how they were doing it. And now that we understand that we will keep pace, and we will beat them.” — Officials
- “If you know someone that thinks they've got an opportunity that's too good to be true, or that they've been contacted by someone who's got the in on cryptocurrency,” — Columbia Jeanine Pirro
