U.S. Treasury sanctions Xinbi Guarantee crypto scam hub

Xinbi Guarantee crypto scam — The U.S. Department of the Treasury has imposed sanctions on the Chinese-language platform Xinbi Guarantee, accusing it of operating a widespread cyber-scam hub that facilitated illicit cryptocurrency transactions for other criminal networks.

The Treasury’s Office of Foreign Assets Control (OFAC) announced the sanctions on September 10, 2026. It stated that Xinbi Guarantee offered services to other criminal organizations, including money laundering and the conversion of illicit proceeds into cryptocurrency. The action freezes any U.S.-based assets of the entity and prohibits Americans from conducting business with it.

This move is part of a broader U.S. government effort to dismantle networks that exploit digital assets for criminal purposes. The Treasury highlighted the platform’s role in enabling scams and frauds that target victims globally.

Sanctions are a key tool for U.S. authorities to target illicit finance in the crypto ecosystem, cutting off access to the traditional financial system and putting international partners on notice.