According to WuShuo, on September 9, the U.S. Department of the Treasury's OFAC announced sanctions against the Chinese escrow trading platform Xinbi Guarantee, as well as Anwen Technology and SafeW Technology, which provide it with technical and cryptocurrency services. On the same day, the U.S. Department of Justice seized related infrastructure and digital asset wallets. The Treasury stated that since its establishment around 2022, Xinbi Guarantee has processed over $24 billion in digital asset and fiat currency transactions, primarily offering custody, payment, and trading services to Southeast Asian scam centers, money laundering networks, and cybercrime groups. The platform has also reportedly been used by North Korean hackers and certain entities already sanctioned by OFAC. Following these sanctions, assets related to these entities within the U.S. or controlled by U.S. persons will be frozen, and U.S. persons are generally prohibited from conducting transactions with them. https://(wublock123.com)/news/ofac-sanctions-xinbi-guarantee-fraud-money-laundering-240b-processed-68121