Xinbi Guarantee is a Telegram-based marketplace that has facilitated $8.4 billion in illicit transactions since 2022. According to blockchain analytics firm Elliptic, it primarily accepts payments in USDT stablecoins and supports services including personal data trafficking and money laundering. With 233,000 users, Xinbi is linked to scamming activities, including romance scams, and offers a range of illicit services such as stalking, fake IDs, and even sex trafficking. The criminal activity on Xinbi and similar platforms significantly exceeds that of earlier darknet markets, illustrating a surge in cybercrime complexity.
"The marketplace is seeing strong growth - with Q4 2024 the first quarter to see inflows of more than $1 billion," Elliptic said.
"Some transactions can be linked to funds stolen by North Korea."
Collection
[
|
...
]