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Crypto· Crypto Regulation

US sanctions Xinbi scam marketplace, restrains $52M in crypto

U.S. authorities have restrained more than $52 million in cryptocurrency tied to Xinbi Guarantee and its vendor network, seizing two wallets and Telegram channels as part of a broader probe that targets the marketplace's laundering infrastructure. The Treasury's OFAC also designated Xinbi as a significant transnational criminal organization and sanctioned two technology firms alleged to have supported the platform.

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