U.S. sanctions Xinbi Guarantee, says marketplace handled more than $24 billion in scam-linked transactions

The U.S. Treasury Department on Wednesday sanctioned Xinbi Guarantee, a Chinese-language illicit online marketplace that officials said has helped power cyber scams, fraud and money laundering schemes targeting Americans.

The Treasury Department’s Office of Foreign Assets Control, or OFAC, said Xinbi Guarantee, also known by its Chinese name 新币担保, was designated as a transnational criminal organization under Executive Order 13581, as amended. OFAC also sanctioned ANWEN TECHNOLOGY CO., LTD. in Cambodia and SAFEW TECHNOLOGY CO., LTD. in Singapore, saying the two companies materially supported or provided goods or services to Xinbi.

The practical effect is broad: All property and interests in property of the designated parties that are in the United States or in the possession or control of U.S. persons are blocked, and U.S. persons are generally barred from dealing with them unless authorized by OFAC.

Treasury said Xinbi’s marketplace has processed the equivalent of more than $24 billion in digital assets and fiat currency since about 2022, primarily facilitating transactions in Southeast Asia. In its sanctions update, OFAC also publicly identified blockchain wallet addresses tied to the organization, underscoring the government’s focus on the financial and technical infrastructure behind the network rather than only on individual operators.

Treasury said the action was taken in coordination with the Justice Department’s Scam Center Strike Force, which it said seized infrastructure and digital-asset wallets used by Xinbi Guarantee on the same day. A separate Justice Department press release confirming the seizure was not available at the time of reporting.

The move highlights a broader shift in Washington’s response to Southeast Asia-linked scam operations. Rather than targeting only specific fraud rings, U.S. authorities are increasingly going after the platforms, wallets and service providers that help those operations function across borders.

So-called guarantee marketplaces are a key part of that ecosystem. Treasury described Xinbi as a Chinese-language platform used extensively by Chinese cybercriminals. Such marketplaces typically act as escrow and service hubs for illicit transactions, including cryptocurrency transfers, money laundering services and tools used by online scam operations. U.S. and British authorities have linked the wider scam-center economy in Southeast Asia not only to fraud against foreign victims but also to forced labor and human trafficking in scam compounds.

Treasury explicitly linked Wednesday’s action to earlier efforts against related infrastructure. It pointed to the Financial Crimes Enforcement Network’s May 1, 2025, finding that Cambodia-based Huione Group was a financial institution of primary money laundering concern, as well as prior Treasury and Justice Department actions against the Prince Group network in October 2025 and June 2026.

Treasury also noted that the United Kingdom had already sanctioned Xinbi Company Limited on March 26, 2026, under its Global Human Rights sanctions regime, another sign that Western governments are treating the marketplace as part of a larger criminal and abuse-linked ecosystem.

“Scam centers in Southeast Asia steal billions of dollars from American victims each year,” said Secretary of the Treasury Scott Bessent. “The Trump Administration is united in its efforts to dismantle these overseas criminal enterprises, and Treasury will continue using its tools to disrupt the networks behind this egregious fraud and protect Americans.”