U.S. Sanctions Xinbi Marketplace Used to Launder Crypto Stolen by DPRK-Linked Actors
Summary
U.S. authorities sanctioned Xinbi, a major illicit marketplace, and seized or restrained more than $52 million in cryptocurrency. Chainalysis says DPRK-linked actors used its vendor network to launder tens of millions stolen from crypto hacks.
Key points
- OFAC sanctioned Xinbi Guarantee on September 9, 2026, and identified dozens of associated cryptocurrency wallets.
- The Justice Department seized two wallets holding about $12 million and restrained 47 additional wallets; more than $52 million in crypto tied to Xinbi and its vendors was restrained.
- Chainalysis says DPRK-linked actors routed tens of millions of dollars stolen from the Bybit and WazirX hacks through Xinbi’s vendor network.
- Specialized “Black U” launderers allegedly swapped traceable stolen crypto for stablecoins from other illicit proceeds, including scam revenue.
- Xinbi vendors advertised laundering, stolen data, fraudulent bank cards, KYC bypass services, scam platforms, malware, and other criminal services.
- The U.S. action included seizing Telegram channels hosting Xinbi’s marketplace; UK authorities also expanded their sanctions designation.
Article Details
- Event Type
- U.S. sanctions designation and coordinated law-enforcement action against Xinbi Guarantee and its associated network.
- Impact
- OFAC sanctioned Xinbi Guarantee, SafeW Technology, and Anwen Technology and identified dozens of associated cryptocurrency wallets. The Justice Department seized two wallets containing approximately $12 million and authorities restrained 47 additional wallets; the coordinated actions restrained more than $52 million in cryptocurrency tied to Xinbi and its vendor network. Chainalysis reports that DPRK-linked actors moved tens of millions of dollars in stolen cryptocurrency through the network.
Vendors
Anwen TechnologyOFAC also identified dozens of associated cryptocurrency wallets and sanctioned SafeW Technology and Anwen Technology, developers of messaging and crypto payment apps supporting Xinbi’s operations. The 52SafeW TechnologyOFAC also identified dozens of associated cryptocurrency wallets and sanctioned SafeW Technology and Anwen Technology, developers of messaging and crypto payment apps supporting Xinbi’s operations. The 52