On Sept 9, OFAC and DOJ took joint action against Xinbi Guarantee and its supporting service network, restricting more than $52 million in crypto assets. Xinbi Guarantee is a Chinese-language online escrow marketplace connecting scam groups with merchants offering money laundering, scam-site development, and other illicit services. OFAC designated Xinbi Guarantee as a significant Transnational Criminal Organization (TCO), and also sanctioned supporting firms SafeW Technology and Anwen Technology. DOJ seized related Telegram channels and wallets, including ~$12M from 2 collection wallets. Treasury said the marketplace has processed over $24B in digital assets and fiat since around 2022. The case highlights the importance of tracking illicit fund flows across service networks. SlowMist @MistTrack_io will continue updating related risk labels to support on-chain monitoring and illicit fund analysis. Read more 👇 https://medium.com/@slowmist/u-s-ofac-and-doj-join-forces-to-crack-down-on-xinbi-guarantee-restricting-more-than-52-million-d76b9f9b1a1a(SlowMist)