$52 Million Seized as U.S. Targets Massive Telegram Scam Marketplac
Sep 10, 2026
September 2026 — Cybercrime / Crypto Fraud
U.S. authorities have launched a major operation against Xinbi Guarantee, a Chinese-language Telegram marketplace accused of providing services to industrial-scale online scam operations.
The Department of Justice announced the action on September 9, saying authorities restrained approximately $52 million in cryptocurrency in a single day and obtained authorization to seize Telegram channels associated with the marketplace.
A Marketplace Built for Scammers
According to U.S. authorities, Xinbi wasn't simply a discussion group.
Vendors allegedly offered services including money laundering, stolen personal information, custom-built fraudulent investment websites and other infrastructure used by scam centers.
The platform reportedly functioned as an escrow marketplace, holding cryptocurrency until criminal services had been delivered.
Blockchain researchers estimate Xinbi processed at least $24 billion in transactions since 2022.
Part of the Scam-Compound Economy
Authorities say the marketplace supported scam centers responsible for sophisticated investment and cryptocurrency fraud, including operations commonly described as “pig-butchering” scams.
The crackdown went beyond Telegram.
U.S. officials also announced cooperation with authorities in Madagascar targeting 13 Chinese-run scam compounds, while cryptocurrency connected to alleged laundering operations was frozen.
The latest seizures bring the amount restrained by the U.S. Scam Center Strike Force to approximately $938 million.
The case demonstrates how modern online fraud has evolved into an entire underground service economy — where criminals can obtain websites, stolen data and money-laundering services from specialized providers instead of building everything themselves.
U.S. authorities have launched a major operation against Xinbi Guarantee, a Chinese-language Telegram marketplace accused of providing services to industrial-scale online scam operations.
The Department of Justice announced the action on September 9, saying authorities restrained approximately $52 million in cryptocurrency in a single day and obtained authorization to seize Telegram channels associated with the marketplace.
A Marketplace Built for Scammers
According to U.S. authorities, Xinbi wasn't simply a discussion group.
Vendors allegedly offered services including money laundering, stolen personal information, custom-built fraudulent investment websites and other infrastructure used by scam centers.
The platform reportedly functioned as an escrow marketplace, holding cryptocurrency until criminal services had been delivered.
Blockchain researchers estimate Xinbi processed at least $24 billion in transactions since 2022.
Part of the Scam-Compound Economy
Authorities say the marketplace supported scam centers responsible for sophisticated investment and cryptocurrency fraud, including operations commonly described as “pig-butchering” scams.
The crackdown went beyond Telegram.
U.S. officials also announced cooperation with authorities in Madagascar targeting 13 Chinese-run scam compounds, while cryptocurrency connected to alleged laundering operations was frozen.
The latest seizures bring the amount restrained by the U.S. Scam Center Strike Force to approximately $938 million.
The case demonstrates how modern online fraud has evolved into an entire underground service economy — where criminals can obtain websites, stolen data and money-laundering services from specialized providers instead of building everything themselves.