Tether freezes $39.3M USDT linked to Xinbi Guarantee

Tether has frozen roughly $39.3 million in USDT held across 10 Tron addresses linked to Xinbi Guarantee, a Chinese-language guarantee marketplace that blockchain investigators have tied to billions of dollars in crypto transactions. Summary Tether froze roughly $39.3 million in USDT across 10 Tron addresses linked to Xinbi Guarantee. MistTrack first reported the freeze, with the affected wallets holding balances ranging from 1 USDT to about 10.8 million USDT. TRM Labs has described Xinbi as one of Southeast Asia’s largest illicit crypto marketplaces, with approximately $24.2 billion in transactions since 2022. The action follows previous USDT freezes involving funds linked to Huione Guarantee, another Telegram based guarantee marketplace. MistTrack, the onchain tracing platform developed by SlowMist, first reported the freeze, saying Tether had blocked approximately 39,273,713 USDT across the 10 addresses. Hours ago, Tether froze approximately 39,273,713 USDT across 10 TRON addresses linked to Xinbi Guarantee新币担保.Following its freeze of 汇旺担保Huione-linked funds, this appears to mark another crackdown on illicit Telegram-based escrow platforms. https://t.co/07xAOUaQPm pic.twitter.com...