The U.S. Treasury’s Office of Foreign Assets Control (OFAC) sanctions Xinbi Guarantee, a Chinese-language online platform described as a hub for cyber scams. The Treasury says the platform is used to support illicit activity and to facilitate transactions connected to criminal networks.
According to reporting, Xinbi is accused of operating through crypto-related channels while offering services to other groups involved in wrongdoing. The sanctions target Xinbi Guarantee as an entity tied to cybercrime, with the U.S. outlining that the platform enables broader scam operations by serving as a marketplace or service provider.
While both outlets describe the same OFAC action and the same general allegations—that Xinbi operates in connection with cybercrime and uses crypto to support illicit transactions—the emphasis differs. One report highlights the platform’s role as a widespread scam hub, while the other focuses on the formal OFAC sanctioning of the Chinese scam marketplace.
