The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) designated Xinbi Guarantee as a significant transnational criminal organization on September 9, 2026, under E.O. 13581, as amended. OFAC also sanctioned Singapore-based SafeW Technology Co., Ltd. and Cambodia-based Anwen Technology Co., Ltd. for materially assisting Xinbi’s operations by providing end-to-end messaging and cryptocurrency wallet/payment services. Treasury said Xinbi ran a Chinese-language illicit marketplace since about 2022 that processed over $24 billion in digital assets and fiat and linked scam operators, money launderers and cybercrime syndicates. The action was coordinated with the Department of Justice’s Scam Center Strike Force and the U.K. FCDO; authorities seized infrastructure and restrained or seized cryptocurrency wallets, including two wallets holding about $12 million.

Why it matters

  • Designation blocks U.S. persons from dealing with Xinbi and its named supporters, and requires reporting of blocked property to OFAC.
  • Authorities say the move disrupts a marketplace that connected scam centres, laundering services and crypto infrastructure used to facilitate large-scale cyber-enabled fraud.