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THE BLOCK: DOJ's Scam Center Strike Force takes down Chinese-language Telegram marketplace Xinbi, restrains over $52 million in crypto

AI Market Summary
The DOJ's Scam Center Strike Force seized the Chinese-language Telegram marketplace Xinbi and restrained over $52M in crypto tied to scam activity, lifting total restraints to about $938M. The enforcement action underscores rising law-enforcement effectiveness against illicit on-chain flows, potentially increasing compliance pressure on exchanges and OTC venues while briefly weighing on sentiment across liquid crypto assets.
Impact level
● Medium
Affected assets
BTC/USDT+0.16%
AI Insight · BTC/USDTAI Insight
● Neutral
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THE BLOCK reported that the U.S. Department of Justice's Scam Center Strike Force has seized Xinbi, a Chinese-language marketplace operating on Telegram that investigators say was used by scam operators. The DOJ said it also restrained more than $52 million in cryptocurrency tied to the network, including about $12 million seized from two Xinbi-linked wallets. The move lifts the Strike Force's cumulative crypto restraints to roughly $938 million, according to the DOJ.
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