Southeast Asia’s Illicit Crypto Marketplace Xinbi Sanctioned By US Authorities

On September 9, 2026, US authorities took action against Xinbi Guarantee, a Chinese-language marketplace investigators describe as a central hub for Southeast Asia’s industrial-scale online fraud economy.

The Treasury Department’s Office of Foreign Assets Control (OFAC) listed the platform as a significant transnational criminal organization and also designated two firms that built tools around it: Cambodia-based Anwen Technology, developer of the XinbiPay wallet also marketed as NewPay, and Singapore-based SafeW Technology, creator of the encrypted SafeW messaging app.

Fifty-two TRON addresses were added to the Specially Designated Nationals list.

The same day, the Justice Department’s Scam Center Strike Force seized related infrastructure and digital asset wallets.

Officials said they seized or restrained more than $52 million in cryptocurrency tied to Xinbi and its vendor network, and took down Telegram channels used to advertise laundering, fake investment sites, and compound recruitment.

Telegram also banned Xinbi.

Treasury said the marketplace has, since about 2022, processed the equivalent of more than $24 billion in digital assets and fiat, mostly across Southeast Asia.

Blockchain analytics firms put the figure higher: TRM Labs estimates more than $36 billion in throughput and about $17 billion in inflows, while Chainalysis notes that the 52 designated addresses alone received more than $8.4 billion in stablecoins.