On Oct. 2, on-chain investigator ZachXBT said he suspects UPay may have allowed Xinbi, a sanctioned illicit marketplace, to use its Visa crypto card through a white-label arrangement. He called on UPay to respond to the allegation. ZachXBT also said Xinbi is mainly associated with pig-butchering schemes, fraud, money laundering, and human trafficking. The statement did not include a response from UPay. The claim, as presented in the source material, reflects ZachXBT’s public allegation and request for clarification rather than a confirmed finding by UPay or Visa.
On Oct. 2, BlockBeats reported that on-chain investigator ZachXBT posted that he suspects UPay may have allowed Xinbi, a sanctioned illicit marketplace, to use its Visa crypto card under a white-label arrangement. He also called on UPay to provide an explanation.
ZachXBT said Xinbi is mainly involved in pig-butchering schemes, fraud, money laundering, and human trafficking.
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