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Xinbi Telegram Market Tied to $8.4B in Crypto Crime, Romance Scams, North Korea Laundering

Source: The Hacker News
Published: 2025-05-14 15:27
Fetched: 2025-05-14 17:17
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Summary

The Xinbi Guarantee, a Chinese-language marketplace operating on Telegram, has been linked to $8.4 billion in illicit transactions since 2022, as reported by blockchain analytics firm Elliptic. This platform is the second major black market identified after HuiOne Guarantee. Xinbi's merchants are involved in selling technology, personal data, and facilitating money laundering activities. The revelation underscores the growing sophistication and scale of cybercrime operations exploiting encrypted messaging apps. Such platforms pose significant challenges for law enforcement due to their anonymity and global reach, highlighting the need for enhanced monitoring and regulatory frameworks.

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Xinbi Guarantee, a Telegram-based market, is tied to $8.4B in crypto crime, including tech sales and money laundering. The case highlights the complex challenges of combating cybercrime on encrypted platforms. #CyberSecurity #CryptoCrime #Blockchain #Telegram #DataPrivacy

Content

A Chinese-language, Telegram-based marketplace called Xinbi Guarantee has facilitated no less than $8.4 billion in transactions since 2022, making it the second major black market to be exposed after HuiOne Guarantee. According to a report published by blockchain analytics firm Elliptic, merchants on the marketplace have been found to peddle technology, personal data, and money laundering