Tether has frozen 10 Tron addresses linked to Xinbi Guarantee, with roughly $39.3 million in USDT involved, according to people familiar with the matter. The freeze was first flagged by MistTrack, the on-chain tracking platform operated by SlowMist. Xinbi Guarantee is a Chinese-language escrow marketplace that appeared on Telegram around 2022. TRM Labs previously described it as one of Southeast Asia’s largest illicit crypto marketplaces and said it had processed about $24.2 billion in transactions in total. The development was reported by The Block. This report centers on the freeze itself, the number of addresses involved, the amount of USDT affected, and how Xinbi Guarantee has been characterized by blockchain security and compliance researchers.
Tether has frozen 10 Tron addresses linked to Xinbi Guarantee, affecting about $39.3 million in USDT, according to people familiar with the matter.
The move was first reported by MistTrack, the on-chain tracking platform run by SlowMist.
Background on Xinbi Guarantee
Xinbi Guarantee is a Chinese-language escrow marketplace that appeared on Telegram around 2022. TRM Labs previously described it as one of Southeast Asia’s largest illicit cryptocurrency marketplaces and said it had handled about $24.2 billion in cumulative transaction volume.
The development was reported by The Block.
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