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International Business Times UK
International Business Times UK
Politics
Regyl Jaen

Scammers Just Lost $52M in One Day as US Strike Force Hits Chinese-Run Crypto Fraud Networks

United States Crypto FBI Madagascar the Justice Department DOJ Secret Service Telegram
The crackdown goes beyond crypto wallets, targeting the alleged infrastructure supporting scam operators and their wider networks. (Credit: Editorial illustration created with ChatGPT OpenAI)

A US crackdown on crypto-linked scam networks has restrained more than $52M in digital assets, as federal authorities targeted an alleged Chinese-language marketplace serving fraud operators. The latest operation brings the task force's total restrained cryptocurrency to approximately $938M since its November 2025 launch.

The operation targeted Xinbi Guarantee, an alleged Chinese-language marketplace that authorities say connected scam operators with vendors offering custom investment-scam websites, money-laundering services, and recruitment for scam compounds in Southeast Asia.

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