Justice Dept Takedown of Xinbi Scam Network | Dayton News

The Justice Department just shut down Xinbi Guarantee, a massive Telegram-based scam marketplace with 650K users, exposing how organized crime is weaponizing crypto and encrypted apps to prey on Americans. Xinbi functioned as an escrow service for scammers, facilitating everything from fake websites to money laundering and even recruiting workers in Southeast Asia — all while funneling victims’ cash directly into criminal wallets. Authorities seized $52M in crypto, sanctioned Xinbi and two tech firms for enabling the operation, and revealed Xinbi has processed $24B since 2022. As law enforcement ramps up global efforts — including dismantling 13 scam centers in Madagascar — the message is clear: if criminals can easily buy scam tools, everyone’s financial safety is under threat. Listen in comfort:Get a discount on a Soli Pillow: http://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/7c918f72bbacfe8d