UK Sanctions Xinbi Guarantee Crypto Black Market on Telegram, Yet Platform Takes No Action

Wed, 15 Apr 2026 02:10:00 +0200

Telegram continues to host Xinbi Guarantee, a massive Chinese-language black market that has facilitated approximately $21 billion in transactions, primarily involving money laundering for cryptocurrency scammers. The platform also offers tools like electrified batons, tasers, and handcuffs linked to human trafficking operations in scam compounds across Southeast Asia. In late March, the UK government officially sanctioned Xinbi Guarantee, labeling it an enabler of scams and severe human rights abuses, including forced labor and trafficking. Despite this, nearly three weeks later, the marketplace remains active on Telegram, processing over $505 million in transactions and growing to nearly 500,000 users. Cryptocurrency tracing firm Elliptic reports no visible efforts by Telegram to remove the associated accounts. Researchers highlight listings for harassment services and underage sex workers, many of whom are likely trafficking victims. Telegram previously banned Xinbi Guarantee tempor