Explainer 002 · 14 Oct 2026
Trust, sold to scammers
In the city
DOJ alleges vendors offered scam operators scam sites, laundering and the recruiting of trafficking victims on one Telegram market. The market, DOJ says, held the payment until the job was done. On 9 Sep OFAC designated it: Xinbi Guarantee. DOJ announced it had seized its channels.
Read the full piece on Instagram · X
Sources
- U.S. Treasury press release sb0624, "Treasury Cracks Down on Transnational Criminal Organization Behind Cyber Scam Operations Targeting Americans", 9 Sep 2026
- OFAC recent action 20260909, SDN list updates
- U.S. Attorney's Office, District of Columbia, "Scam Center Strike Force Conducts Seizures of Chinese-Run Illicit Scammer Marketplace, and Restrains $52 Million in Laundered Crypto Scammer Funds In One Day", 9 Sep 2026
- FinCEN, "FinCEN Finds Cambodia-Based Huione Group to be of Primary Money Laundering Concern…", 1 May 2025
- Elliptic, "Elliptic data leads to the shutdown of the two largest online criminal marketplaces of all time", 14 May 2025
- Elliptic, David Carlisle, "Crypto regulatory affairs: OFAC sanctions Xinbi Guarantee marketplace", 15 Sep 2026
- FinCEN, "FinCEN Issues Final Rule Severing Huione Group from the U.S. Financial System", 14 Oct 2025