[U.S. Department of Justice Seizes Xinbi Guarantee, Freezes Over $52 Million in Crypto Assets Linked to Fraud] Foresight News reports that the U.S. Department of Justice's 'Scam Center Strike Force,' in collaboration with the Treasury Department's Office of Foreign Assets Control (OFAC), has announced the seizure of the Telegram-based illegal service trading platform Xinbi Guarantee, which primarily catered to Southeast Asian fraud syndicates. With assistance from Tether, over $52 million in crypto assets associated with this network and its suppliers were frozen in a single day. To date, the task force has frozen approximately $938 million in fraud-related funds. Investigations revealed that Xinbi Guarantee had long operated as a transaction guarantor via Chinese-language Telegram channels, providing fraud syndicates with services such as custom fake investment websites, laundering and exchanging illicit funds, and recruiting and trafficking individuals for criminal activities. According to a seizure warrant signed by the U.S. District Court for the District of Columbia, law enforcement has taken control of the platform's related Telegram channels and seized approximately $12 million from wallets used for receiving payments. Additionally, 47 wallets linked to the money laundering network have been frozen. OFAC has also added Xinbi Guarantee and two other associated supporting entities to its Specially Designated Nationals (SDN) sanctions list. The task force further announced an expansion of its global crackdown efforts. Recently, a team was dispatched to Madagascar to assist local police in dismantling 13 fraud syndicate hubs operated by Chinese criminal groups. This operation resulted in the handling of over 3,200 electronic devices and the arrest of nearly 400 individuals involved.