Overview

• Xinbi Guarantee, a crypto marketplace registered in Colorado, has processed over $8.4 billion in illicit transactions since 2022, primarily using Tether stablecoins.
• The platform facilitated services including money laundering, hacking, for-hire harassment, and sex trafficking, with operations largely based in Southeast Asia.
• Telegram removed thousands of Xinbi-related accounts and channels following reports by blockchain analytics firm Elliptic and media outlets.
• Xinbi vendors offered tools like Starlink devices, fake IDs, and stolen personal data, used in scams and other criminal activities.
• Despite the crackdown, Xinbi's operators may reemerge on new platforms, mirroring the resilience of similar marketplaces like Huione Guarantee.