An $8.4 Billion Chinese Hub for Crypto Crime Is Incorporated in Colorado

Reported by Andy Greenberg (Summary version featured below) A Telegram-based Chinese-language black market called Xinbi Guarantee has facilitated over $8.4 billion in illicit transactions since 2022, according to new research from crypto-tracing firm Elliptic. Although presented as a legitimate company registered in Colorado, Xinbi operated as a hub for money laundering services tied to crypto […]