A joint company has been linked to the construction of Colorado to the illegal Chinese market that served fraudsters in Southeast Asia and used to direct billions of dollars from encryption.
The market, which is called XINBI, has received $ 8.4 billion, primarily in Tether (USDT) Stablecoin transactions so far, Blockchain Elliptic security company I mentioned On May 13.
Merchants in the illegal market in Chinese, sell technology, personal data and money laundering services to Southeast Asian contests who target victims using pig fraud.
On its website, Xinbi describes itself as “Investment and Capital Guarantee Group” and demands work through Xinbi Co. LTD, a compact company in Colorado in 2022.
“In January 2025, the company was updated to” Al -Jansah “for its failure to submit a periodic report,” Al -Alailji said.
The main services provided on the black market are money laundering services, which are the largest category, as well as technology such as Starlink equipment for scammers, stolen personal data to target victims, fake identifiers and other fraudulent documents.
Xinbi is the second largest illegal market on the Internet that has been discovered so far, with the growth of transactions rapidly. The Helgeon researchers said that the Q4 2024 witnessed more than a billion dollars, and evidence linking the platform to the North Korean infiltrators who wash the stolen boxes.
Related to: The largest “illegal market online” grew by 51 % in 6 months: Al -Alailji
The Elliocytes have set thousands of encryption addresses used by Xinbi guarantee and traders on them, and stated that transactions amounting to $ 8.4 billion “must be considered lower limits for the real volume of transactions on the platform.”
The statute, which contains 233,000 users, works on a “warranty form” and requires seller deposits to prevent fraud.
The second to ensure Huione
In July 2024, Al -Alailji revealed a similar Chinese market based on the telegram known as the Huione guarantee.
The company found that the broader HUIONE Group has facilitated more than $ 98 billion in encryption transactions.
In early May, it was appointed by the US Treasury as a money laundering process and was scheduled to be cut off from the American banking system.
Al -Alailji concluded that these platforms also provide a window to a “underground banking system based on China”, which depends on Stablecoins and other digital payments “, which is used to launder money on an important scale.
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