U.S.-Registered Xinbi Guarantee Tied to $8.4B in Shady Crypto Deals—Regulators Left Holding the Bag
Another day, another crypto-linked scandal—this time with a U.S. registration stamp for extra irony. Xinbi Guarantee, a platform that somehow passed regulatory sniff tests, now faces allegations of facilitating $8.4 billion in illicit transactions. Whoops.
The ’Compliant’ Crypto Facade Cracks
Documents reveal Xinbi operated as a financial Teflon pan—nothing stuck, least of all AML protocols. The usual suspects: money laundering, sanctions evasion, and the classic ’unlicensed money transmitter’ play. Cue the SEC’s exasperated sigh.
Wall Street’s Lesson (Unlearned Again)
While traditional finance pats itself on the back for dodging crypto’s ’wild west’ rep, this case proves the outlaws just put on suits. Xinbi’s registration paperwork probably took longer to process than its fraud schemes to execute—efficiency wins, just not the kind anyone wanted.
A company registered in Colorado, USA, has been secretly running one of the world’s biggest illegal crypto networks. Called Xinbi Guarantee, this company has helped criminals move $8.4 billion worth of crypto since 2022, right under the nose of U.S. authorities.
From money laundering and scams to sex trafficking and fake ID sales, Xinbi’s dark business shows how dangerous and fast-growing the crypto crime world has become.
Xinbi Guarantee’s Criminal Empire Built on Telegram
Xinbi Guarantee mainly works through Telegram, where it runs a major black-market service. Though it claims to serve Chinese-speaking clients, but it proudly claims to be registered in Colorado, showing its U.S. legal status on its website.
According to a report by blockchain firm Elliptic, Xinbi uses Tether (USDT) for most transactions. In just the last three months of 2024, more than $1 billion flowed through the platform.
Xinbi also helped North Korean hackers launder stolen money from the $235 million hack of the Indian crypto exchange WazirX. Just days after the attack, its wallets received around $220,000 in USDT.
From Fake IDs to Human Trafficking
The number of Xinbi users has doubled in just a few months, jumping from 119,000 in August 2024 to 233,000 now. But it’s not just the numbers that are concerning—it’s the nature of what the platform offers.
This isn’t just about stolen crypto. Vendors are also selling fake IDs, stolen personal data, and fraudulent documents. Even worse, the platform reportedly facilitates sex trafficking, harassment-for-hire, and access to egg donors and surrogates, blurring the line between digital crime and human exploitation.
U.S. Registration, But No Real Oversight
Despite all this, Xinbi Guarantee was officially registered in Aurora, Colorado, in 2022. However, the firm’s status turned “Criminal” in early 2025 for failing to file required reports.
This raises serious questions about how such platforms exploit U.S. corporate systems to operate globally without scrutiny.
Telegram Takes Quick Action
After Elliptic’s report, Telegram shut down many Xinbi-related channels, including some linked to another illegal platform, Huione Guarantee. This is a good step, but experts say much more needs to be done.
