United States joins Britain in Sanctioning Chinese online marketplace Xinbi Guarantee for targeting Americans

The United States has sanctioned the Chinese-language platform Xinbi Guarantee which allegedly conducted an illicit online marketplace and money-laundering network heavily utilized by criminal organizations.

The platform, according to Washington, was behind fraud and cyber scam operations targeting American citizens.

Xinbi is reported to have so far processed over US$25 billion through crypto.

The U.S move comes shortly after the United Kingdom took similar steps against the digital platform.

An official statement says these actions directly disrupt the financial infrastructure supporting Southeast Asian scam operations and reaffirm the administration’s commitment to protecting the American public from online predatory networks.

“The Trump Administration will not let insidious criminal networks prey on the American people—cybercrime, fraud, and predatory schemes end here,” said Spokesman Tommy Pigott.

Pigott said the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) sanctioned Transnational Criminal Organization (TCO) Xinbi Guarantee, a Chinese-language platform used extensively by Chinese cybercriminals that operates a large illicit online marketplace used to support cyber scams, fraud and money laundering.

The U.S believes that the network racketeered other criminal activity targeting Americans. 

OFAC also designated two entities that support Xinbi Guarantee’s core operations via the provision of digital currency and other financial services.

This action is being taken in coordination with the Department of Justice’s Scam Center Strike Force (SCSF), which today seized infrastructure and digital asset wallets used by Xinbi Guarantee.

“Scam centers in Southeast Asia steal billions of dollars from American victims each year,” said Secretary of the Treasury Scott Bessent, adding that the action further reflects OFAC’s coordination with the Homeland Security Task Force and National Coordination Center.

“The Trump Administration is united in its efforts to dismantle these overseas criminal enterprises, and the Treasury will continue using its tools to disrupt the networks behind this egregious fraud and protect Americans.”

These actions are being taken in furtherance of President Trump’s Executive Order (E.O.) 14390 of March 6, 2026, “Combating Cybercrime, Fraud, and Predatory Schemes Against American Citizens,” which orders the U.S. Government to unleash every available tool to stop foreign-backed criminal networks that exploit vulnerable Americans through cybercrime, cyber-enabled fraud, and extortion. 

The designations build on OFAC’s designations of the Prince Group Transnational Criminal Organization (Prince Group TCO) and persons related to the Prince Group TCO in October 2025 and June 23, 2026, and Treasury’s Financial Crimes Enforcement Network (FinCEN)’s October 2025 Huione Group section 311 final rule and subsequent June 2026 proposed amendment.

Specifically, this action aims to build on efforts by Treasury to identify illicit marketplaces and highlight the risks they pose through their money laundering activities.

Additionally, this action highlights close cooperation between the United States and the United Kingdom to counter scam operations.  OFAC’s actions today complement the United Kingdom’s Foreign, Commonwealth, and Development Office’s (FCDO) March 26, 2026 sanctions action against Xinbi.

OFAC is taking today’s action pursuant to E.O. 13581 (“Blocking Property of Transnational Criminal Organizations”), as amended by E.O. 13863 (“E.O. 13581, as amended”).

Transnational criminal organizations behind large scale scams

Transnational criminal organizations increasingly rely on interconnected networks of online marketplaces, payment institutions, virtual asset service providers, and money laundering facilitators to conduct cyber scams and move stolen funds.