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Jai Hamid

Xinbi handles $17.9 billion in crypto trades after 2025 crackdowns and Telegram ban

Chinese-language crypto marketplace Xinbi has facilitated $17.9 billion in transactions and received $8.9 billion in crypto, despite being removed from Telegram in May 2025 and facing U.S. regulatory action. After the crackdown, operators shifted activity to the SafeW messaging app and its XinbiPay wallet, while rival services Huione, Haowang, and Tudou saw their operations collapse. Since 2022, Xinbi has processed at least $16.4 billion in trades and remains a key hub for illicit services.
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