Tether has frozen 50 blockchain addresses in a move tracked by blockchain security firm Bitrace, with more than $45 million linked to Xinbi Guarantee caught in the action. According to Bitrace, the frozen set included 22 business addresses associated with the Southeast Asian illicit crypto guarantee platform.
Bitrace said the operation did not stop at Xinbi Guarantee’s core transaction flow. The freeze also covered recent business addresses used for deposits, transfers, and payouts, along with the outgoing hot wallet address of Xpay, an illicit payment tool tied to the group. Some third-party illicit entity addresses that had maintained close fund flows with Xinbi Guarantee were also included.
The firm drew a distinction between this case and an earlier single-address freeze involving Huione Pay and North Korea-linked hackers, saying the current action expanded to related business addresses as well. Bitrace added that on-chain enforcement was still ongoing as of Sept. 9, 2026. It also said temporary replacement business addresses activated by Xinbi Guarantee after freezes on Sept. 8 were frozen again the same night, with less than 12 hours between the two actions.
Odaily reported that USDT issuer Tether froze 50 blockchain addresses in a single action, according to tracking by blockchain security firm Bitrace. The frozen addresses included 22 business addresses tied to Xinbi Guarantee, described in the report as a major illicit crypto transaction guarantee platform in Southeast Asia, with the total amount involved exceeding $45 million.
Bitrace said the main targets were Xinbi Guarantee’s recent business addresses, including deposit, transfer, and payout addresses. The freeze also covered the outgoing hot wallet address of Xpay, an illicit payment tool under Xinbi Guarantee, as well as some third-party illicit entity addresses that had maintained close financial dealings with the group. Bitrace said at least 22 Xinbi Group business addresses and more than $45 million were hit by the on-chain enforcement action.
According to Bitrace, the key difference between this case and the earlier single-address fund freeze involving Huione Pay and North Korea-linked hackers is that other related business addresses were also included this time. Framed around Xinbi Guarantee itself, the action first froze business addresses that had recently held operating funds, then the withdrawal hot wallet of its payment tool, and then some cooperating merchant addresses.
Bitrace also said that on-chain enforcement by an unidentified law enforcement agency was still ongoing as of Sept. 9, 2026. After Xinbi Guarantee’s addresses were frozen on Sept. 8, temporary business addresses activated afterward were also frozen that same night, with less than 12 hours between the two freezes.
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