On September 9, local time, the US Treasury Department designated Chinese-language scam-services network Xinbi Guarantee and two companies supporting it for sanctions under Executive Order 13581, as amended. The US Justice Department described Xinbi as a Chinese-language network operating on Telegram that connects scam organizations with sellers of money-laundering and technology services, acting as an escrow intermediary that holds payments until services are completed. According to the Treasury, transactions through the platform since around 2022 exceeded $24 billion across crypto assets and fiat currencies. The Treasury said Xinbi began moving its vendor and money-laundering networks to encrypted messaging service SafeW around June 2025 and launched its own wallet, XinbiPay, also known as NewPay. Singapore-based SafeW Technology, which was designated alongside Xinbi, developed the messenger, while Cambodia-based Anwen Technology developed the wallet.
The Treasury said the designations followed sanctions against Prince Group in October 2025 and June 2026, as well as the Financial Crimes Enforcement Network's (FinCEN) action against Huione Group under Section 311 of the USA PATRIOT Act. The Justice Department announced the same day that it had restrained about $52 million in crypto assets linked to Xinbi and its vendor network. The action included the seizure of two wallets containing about $12 million, and investigators also requested restraints on 47 additional wallets. The Justice Department said a warrant from the US District Court in Washington, DC, authorizing the seizure of the network's Telegram channel and the two wallets was issued on September 7 and unsealed on September 9. Property and interests in property of designated persons that are in the United States or in the possession or control of US persons are blocked. The same rule applies to entities owned, directly or indirectly, 50% or more in aggregate by one or more designated persons. Transactions involving such property by US persons, within the United States or transiting the United States are generally prohibited unless authorized or exempt. These blocking, restraint and seizure measures do not mean that the process of returning money to victims has been completed.