The US Department of Justice restrained approximately $52 million in scam-linked cryptocurrency in a single day and seized the Telegram channels of Xinbi Guarantee, a Chinese-language illicit marketplace. Elliptic estimates at least $24 billion in transactions since 2022 on this platform that sells services to scam center operators, second only to Huione Guarantee which handled $31 billion. The Office of Foreign Assets Control designated Xinbi as a significant transnational criminal organization on the same day, while an operation in Madagascar dismantled 13 Chinese-run compounds and arrested nearly 400 people.
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