UK Sanctions Xinbi, Cutting Crypto Ties to Platform Linked to $20 Billion in Money Laundering
Xinbi is a cryptocurrency escrow marketplace serving Chinese-speaking users that has been accused of offering illicit services including payment settlement and scam tools. It is also closely linked to scam compounds in Southeast Asia and underground financial networks. The vast scale of its cross-border crypto flows has made it a key target in Britain’s campaign against the infrastructure supporting fraud and money laundering.
The UK Foreign, Commonwealth & Development Office announced comprehensive sanctions against Xinbi on March 26, 2026. Blockchain analytics company Chainalysis estimates that the platform processed more than $19.9 billion in illicit funds between 2021 and 2025. The sanctions will freeze its UK assets and prohibit British banks, crypto firms and individuals from transacting with it or providing services.
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The history behind this eventU.S. Sanctions Xinbi Guarantee, Freezes $52.8 Million in Crypto
Xinbi Guarantee, founded around 2022, operated a Chinese-language illicit marketplace linking Southeast Asian scam compounds with vendors of money-laundering services, custom fraud websites and other criminal tools. Its escrow model held payments until vendors delivered, giving cybercriminals a layer of trust. The network later launched XinbiPay, also known as NewPay wallet, and migrated activity to encrypted messaging app SafeW, making it a key financial and technical hub for transnational scam operations.
On Sept. 9, the U.S. Treasury’s Office of Foreign Assets Control designated Xinbi Guarantee a significant transnational criminal organization and sanctioned app developers Anwen Technology and SafeW Technology. The Justice Department said a federal court authorized the seizure of the marketplace’s Telegram channels on Sept. 7, while authorities seized two wallets holding about $12 million and sought restraints on 47 others. The coordinated action froze $52.8 million in crypto tied to a marketplace that had processed more than $24 billion in digital assets and fiat currency since around 2022.
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