US sanctions Chinese-language Xinbi Guarantee marketplace over cyber scams
- Posted on September 9, 2026
- By South China Morning Post
- 1 Views
- 1 min read
In brief
The U.S. government has taken decisive action against the Xinbi Guarantee marketplace, a Chinese-language platform allegedly facilitating cybercrime and fraudulent activities. Federal authorities have imposed comprehensive sanctions, simultaneously confiscating over $52 million in cryptocurrency assets and dismantling associated Telegram channels used for illicit coordination. This enforcement operation represents a significant crackdown on international cybercriminal networks operating across decentralized digital platforms.
Summary auto-generated by AI from the original publisher's content. Editorial standards.
US sanctions Chinese-language Xinbi Guarantee marketplace over cyber scams
Washington also seizes Telegram channels and US$52 million in cryptocurrency linked to the platform’s alleged illicit operations.
