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Tether freezes $39.3M in USDT linked to Xinbi Guarantee on Tron wallets amid crackdown on illicit crypto platforms

Market News
09 Sep 2026
Blockonomi
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Bearish
Tether freezes $39.3M in USDT linked to Xinbi Guarantee on Tron wallets amid crackdown on illicit crypto platforms

Tether has frozen approximately $39.3 million in USDT across 10 Tron wallets connected to Xinbi Guarantee, a Chinese-language Telegram-based crypto escrow marketplace linked to scams and money laundering. This follows a previous freeze on Huione Guarantee funds and signals ongoing efforts to clamp down on illicit crypto activities. Xinbi has processed over $24 billion in transactions since 2022, raising concerns about its role in illegal operations. Tether has not publicly explained the freeze, and investigators continue to monitor the movement of these funds.

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