DOJ Strike Force Seizes Scam Marketplace, Restrains $52M in Crypto
💰 The Justice Department's Scam Center Strike Force, in collaboration with the Treasury, seized the Chinese-language scam marketplace Xinbi Guarantee and restrained approximately $52 million in cryptocurrency, raising the total restrained to about $938 million since its inception.
🌍 A separate team from the Strike Force assisted in dismantling 13 Chinese-run scam compounds in Madagascar, expanding their crackdown efforts beyond Southeast Asia and highlighting the global nature of transnational crime.
📈 Xinbi had previously processed nearly $20 billion in crypto from 2021 to 2025, despite earlier sanctions, with reported crypto investment fraud losses in the U.S. skyrocketing to $8.65 billion in 2025, indicating a significant rise in unreported fraud cases.
💰 The Justice Department's Scam Center Strike Force, in collaboration with the Treasury, seized the Chinese-language scam marketplace Xinbi Guarantee and restrained approximately $52 million in cryptocurrency, raising the total restrained to about $938 million since its inception.
🌍 A separate team from the Strike Force assisted in dismantling 13 Chinese-run scam compounds in Madagascar, expanding their crackdown efforts beyond Southeast Asia and highlighting the global nature of transnational crime.
📈 Xinbi had previously processed nearly $20 billion in crypto from 2021 to 2025, despite earlier sanctions, with reported crypto investment fraud losses in the U.S. skyrocketing to $8.65 billion in 2025, indicating a significant rise in unreported fraud cases.