DOJ Seizes Telegram Channels and Freezes $52.8 Million in Crypto Tied to Xinbi Guarantee Scam

The U.S. Department of Justice announced Wednesday that it has dismantled an online fraud operation known as Xinby Guarantee, seizing the Telegram groups that facilitated the scheme and freezing more than $52 million in digital assets.

According to the DOJ, Xinby Guarantee operated as a marketplace that marketed fraudulent financial guarantees and other deceptive services to cryptocurrency users. The platform leveraged encrypted messaging apps, primarily Telegram, to coordinate transactions and communicate with victims, making it difficult for law‑enforcement to trace the activity.

Investigators identified two cryptocurrency wallets linked to the operation and moved to confiscate them, effectively locking up the assets held there. The combined value of the frozen funds was reported at $52.8 million, a sum that underscores the scale of the illicit activity and the growing attractiveness of digital currencies for scammers.

Officials said the action was part of a broader, coordinated effort that involved multiple agencies working together to target the infrastructure of the scam. By taking control of the Telegram channels, authorities aim to disrupt the communication network that allowed the fraudsters to recruit new victims and process payments.

The crackdown comes amid heightened scrutiny of crypto‑related fraud, as regulators and law‑enforcement agencies worldwide grapple with the anonymity and cross‑border nature of digital assets. While the seizure represents a significant blow to Xinby Guarantee, the DOJ warned that similar schemes continue to evolve, and ongoing investigations are likely to pursue additional actors and assets tied to the network.

Legal experts note that the freezing of such a large amount of cryptocurrency could set a precedent for future actions against illicit digital‑currency operations, potentially encouraging more aggressive asset‑seizure strategies. The DOJ has not disclosed whether any arrests have been made, but it indicated that the investigation remains active and that further prosecutions may follow as evidence is reviewed.