US sanctions Xinbi Guarantee marketplace, seizes $52M in cyber scam crackdown

The US Treasury sanctioned Chinese-language marketplace Xinbi Guarantee and two affiliates, while DOJ seized Telegram channels and crypto wallets, freezing over $52 million in one day. The action targets a platform with 650,000+ users linked to transnational cyber-enabled scams. This marks a significant US enforcement escalation against overseas cybercrime infrastructure, though the full scope of the network remains unclear.