The Justice Department’s Scam Center Strike Force, working with the Treasury Department, seized a Chinese-language scam marketplace called Xinbi Guarantee and restrained about $52 million in cryptocurrency in one day, U.S. Attorney Jeanine Pirro announced this week. The operation lifted the Strike Force’s total restrained assets to roughly $938 million since its founding. Xinbi operated mainly through Telegram as a service marketplace for scam centers, offering custom investment-fraud websites, money laundering and recruitment of trafficking victims. Prosecutors traced victim funds through escrow payments and wallet addresses posted by vendors. A federal court in Washington authorized seizure of the Telegram channels on September 7, and prosecutors unsealed the warrant Wednesday. Treasury’s Office of Foreign Asset Control (OFAC), the U.S. sanctions office, separately designated Xinbi a transnational criminal organization, along with two entities accused of supporting it, freezing property they hold in the U.S. A separate Strike Force team helped Madagascar dismantle 13 Chinese-run scam compounds during a two-week deployment, processing more than 3,200 devices and interviewing about 400 arrested people. The broader crackdown began in November 2025. Britain sanctioned Xinbi in March, while Chainalysis estimated that the platform processed nearly $20 billion in cryptocurrency between 2021 and 2025. Federal data cited in Wednesday’s announcement showed reported crypto investment-fraud losses of $8.65 billion in 2025, up 89% from $4.57 billion in 2023, though the FBI said the figures significantly underrepresent actual losses because most victims do not report fraud.