Illicit $8B crypto market Xinbi incorporated in Colorado: Elliptic

A Colorado-incorporated firm has been linked to a Chinese illicit marketplace that has served scammers in Southeast Asia and has been used to channel billions of dollars worth of crypto. The marketplace, called Xinbi Guarantee, has received $8. 4 billion, primarily in Tether (USDT) stablecoin transactions to date, blockchain security firm Elliptic reported on May 13.  Merchants on the Chinese-language, Telegram-based illicit marketplace sell technology, personal data, and money laundering services to Southeast Asian scammers who target victims using pig butchering scams source: https://cointelegraph.com/news/crypto-black-market-xinbi-colorado-based-firm?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound