THE BLOCK: Tether earlier today froze about $39.3 million in USDT across 10 Tron addresses linked to Xinbi Guarantee, a source with direct knowledge of the matter told The Block. Xinbi is a Chinese-language guarantee marketplace that emerged on Telegram around 2022. Blockchain analytics firm TRM Labs has described it as one of Southeast Asia's largest illicit crypto marketplaces, saying it has processed about $24.2 billion in transactions and facilitates services used by scam operations, money laundering networks and cybercrime groups. The UK became the first country to sanction Xinbi in March, according to TRM Labs. Xinbi was also banned from Telegram in May 2025 but re-emerged on the app within days, the firm previously noted. MistTrack, an onchain tracing platform developed by blockchain security firm SlowMist, first reported the USDT freeze. solana:Es9vMFrzaCERmJfrF4H2FYD4KCoNkY11McCe8BenwNYB tron:native(The Block)