Tether Freezes $39.3M in USDT Across 10 TRON Wallets Linked to Xinbi Guarantee

Highlights:

• Tether reportedly froze $39.3 million in USDT across 10 TRON wallets linked to Xinbi Guarantee.
• MistTrack reported the freeze as Xinbi remains under scrutiny over alleged illicit activity and large crypto flows.
• The UK sanctioned Xinbi in March after authorities linked the marketplace to scam networks in Southeast Asia.

Tether has reportedly frozen about $39.3 million in USDT held across 10 wallets on the TRON network linked to Xinbi Guarantee, a crypto marketplace under growing scrutiny for alleged illicit activity. Blockchain tracking platform MistTrack reported the freeze on September 8. According to the firm, the affected addresses held a total of 39,273,713 USDT and were connected to Xinbi Guarantee, a Chinese-language marketplace that originally operated through Telegram.

MistTrack said:

“Hours ago, Tether froze approximately 39,273,713 USDT across 10 TRON addresses linked to Xinbi Guarantee.”

The freeze means the USDT in those wallets can no longer be transferred. Tether, which issues USDT, can block specific addresses through its token system when wallets are flagged. Tether had not released a public statement explaining the reason for this specific action at the time of writing. MistTrack said the move followed an earlier freeze involving funds linked to Huione Guarantee, another marketplace that has faced similar scrutiny.

Hours ago, Tether froze approximately 39,273,713 USDT across 10 TRON addresses linked to Xinbi Guarantee新币担保.

Following its freeze of 汇旺担保Huione-linked funds, this appears to mark another crackdown on illicit Telegram-based escrow platforms. https://t.co/07xAOUaQPm pic.twitter.com/927jgLK4jM

— MistTrack🕵️ (@MistTrack_io) September 8, 2026

Xinbi Guarantee Has Handled Billions in Crypto

Xinbi Guarantee began operating around 2022 as a Chinese-language guarantee marketplace. These platforms usually act as middlemen between buyers and sellers and can provide escrow services for transactions. Blockchain intelligence firm TRM Labs has described Xinbi as one of the largest illicit crypto marketplaces operating in Southeast Asia. According to its research, the platform has processed about $24.2 billion in total transaction volume since its launch.

USDT has also played a major role in marketplace-linked activity. Research from Elliptic previously linked Xinbi merchants to services involving money laundering, stolen personal data, and tools used by online scam networks. Telegram removed thousands of channels linked to Xinbi Guarantee and Huione Guarantee in May last year after investigations into their activities. However, researchers later found that Xinbi continued operating through other platforms and services.

UK Sanctioned Xinbi in March 2026

Pressure on Xinbi increased further in March this year. On March 26, the United Kingdom sanctioned Xinbi Company Limited under its Global Human Rights sanctions regime. The UK sanctions list identifies Xinbi Guarantee as a subsidiary.

British authorities also imposed an asset freeze and disqualified the director. The UK government said Xinbi had enabled and benefited from scam-centre operations in Southeast Asia involving forced labour and other serious human rights abuses. The latest USDT freeze therefore comes as regulators and blockchain investigators continue targeting financial networks linked to Xinbi and similar platforms.

Tether Can Freeze USDT in Flagged Wallets

USDT works differently from decentralized cryptocurrencies such as Bitcoin because it is issued and managed by Tether. That allows the company to blacklist specific wallet addresses and prevent tokens held there from moving. Tether has previously said it works with law enforcement agencies and sanctions authorities when dealing with funds connected to suspected criminal activity.

In December 2023, the company introduced a voluntary wallet-freezing policy linked to the U.S. Treasury Department’s Office of Foreign Assets Control sanctions list. Tether said in April that it had worked with more than 340 law enforcement agencies across 65 countries and had supported the freezing of more than $4.4 billion in assets connected to investigations and enforcement actions.

For the latest Xinbi-linked wallets, however, Tether has not publicly confirmed whether the freeze came from a specific law enforcement request.