US DOJ Disrupts Xinbi Guarantee Scam Marketplace, Freezes $52.8 Million in Crypto

The US Department of Justice announced Wednesday coordinated actions against Xinbi Guarantee, an illicit online marketplace that offered scam services, including the seizure of Telegram channels used to run the operation and the confiscation of two cryptocurrency wallets holding roughly $52.8 million.

Xinbi Guarantee, linked to Chinese organised crime groups, provided fraudulent guarantees and other deceptive services to victims worldwide, leveraging encrypted messaging platforms to evade detection before the DoJ intervention disrupted its infrastructure.

In a notable international effort, the DoJ deployed its Scam Center Strike Force to Madagascar, targeting thirteen scam compounds that were part of the Xinbi Guarantee network, marking a rare cross‑border law‑enforcement collaboration aimed at dismantling the criminal ecosystem.

The takedown underscores the growing risk of crypto‑related fraud for Australian IT professionals and students, who must remain vigilant about the security of digital assets and the tactics used by trans‑national fraudsters.

For those seeking to strengthen their defensive skills, Wepro Technology in Darwin offers CompTIA Security+ and related cybersecurity courses that equip learners with the knowledge to identify and mitigate such threats.