US seizes Xinbi Telegram channels, restrains $52M in crypto — SkimNews
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- DOJ seized two Xinbi wallets holding about $12 million in crypto and sought restraints against 47 additional wallets across the alleged laundering network, while the US District Court for DC authorized seizure of Xinbi's Telegram channels on Sept. 7.
- Treasury's OFAC designated Xinbi as a significant transnational criminal organization and sanctioned Singapore-based SafeW Technology and Cambodia-based Anwen Technology for providing technological and financial support.
- Anwen Technology allegedly developed XinbiPay (also known as NewPay), the crypto wallet used by the marketplace, while Xinbi shifted its networks to SafeW's encrypted messaging app around June 2025 as law-enforcement scrutiny intensified.
- Xinbi processed over $24 billion in crypto and fiat since around 2022, with TRM Labs Global Head of Policy Ari Redbord estimating it moved more than $36 billion at industrial scale after Huione went down.
- Vendors used Xinbi's Telegram channels to advertise money laundering, custom scam-investment websites and recruitment services for scam compounds in Southeast Asia, per the unsealed warrant.
- North Korean hackers and entities connected to the sanctioned Prince Group used Xinbi's platform, according to Treasury.
- The UK imposed sanctions on Xinbi on March 26, freezing connected UK assets and barring the platform from its financial, trade and travel networks.
- Stablecoin issuer Tether assisted in the investigation, according to the DOJ.
Why it matters: Treasury says Xinbi processed over $24 billion since 2022 and was used by North Korean hackers and entities tied to the sanctioned Prince Group. By seizing its Telegram channels and sanctioning its technology providers (SafeW, Anwen) rather than individual operators, US authorities are dismantling the communications and payments layer that Southeast Asian scam compounds depend on.
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