U.S. Treasury Sanctions Chinese Crypto Platform Xinbi Guarantee for Cyber Scams

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The U.S. Treasury Department has imposed sanctions on Xinbi Guarantee, a Chinese-language online platform linked to large-scale cyber fraud. Xinbi is accused of facilitating criminal activity by conducting transactions primarily through cryptocurrency. The platform allegedly provided services to other criminal networks, effectively functioning as a hub for illicit operations. This action reflects the Treasury's continued efforts to crack down on crypto-enabled criminal enterprises operating internationally.

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