UK Government Designates Xinbi, Key Node in Chinese-Language Crypto-Enabled Scam Infrastructure
ID: dbcadd2f-b655-5e43-9397-89466cf2b222
STIX ID: report--dbcadd2f-b655-5e43-9397-89466cf2b222
Feed Name: Chainalysis Blog
Chainalysis reports that the UK FCDO designated Xinbi, a major Chinese-language illicit guarantee marketplace that has processed an estimated $19.9 billion between 2021–2025 and provides crypto escrow, OTC, and laundering services to large-scale scam operations (including the #8 Park scam compound); Xinbi has shown resilience by migrating to SafeW and launching XinbiPay and is tightly interconnected with other guarantee platforms such as Huione and Tudou, underscoring the need for infrastructure-focused sanctions and enforcement.
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