A $20 Billion Crypto Scam Market Faces a New Government Crackdown
UK and US Authorities Launch Sweeping Sanctions Against Scam Operations
British officials have imposed sweeping sanctions on the Xinbi Guarantee black market, a Telegram-based platform that facilitates services to prop up fraudulent cryptocurrency operations. The crackdown targets a highly lucrative ecosystem that has enabled scam networks to operate with relative impunity.
Seizure of Billions in Cryptocurrency in Global Crackdowns
As part of broader international efforts, authorities have seized billions in cryptocurrency. For instance, in October 2025, the US and UK jointly seized over $14 billion in Bitcoin in a crackdown on alleged scam networks, marking one of the largest seizures in crypto history.
Global Trends in Crypto Fraud and Regulatory Response
- Fraudsters are increasingly using AI-powered tools to impersonate legitimate entities and distribute fake tokens, as seen in recent incidents involving wallet scams.
- Major crypto exchanges, including Binance, have pledged to strengthen fraud prevention and crack down on criminal activities involving cryptocurrency.
- Regulatory bodies, including the SEC and White House, are reviewing new rules to address fraud, scams, and money laundering in the crypto sector.
Challenges in Monitoring and Combating Crypto Scams
Despite growing regulatory efforts, the decentralized and anonymous nature of blockchain technology continues to pose challenges for law enforcement. Scammers often exploit platforms like Telegram to operate under the radar, making detection and intervention difficult.
來源：https://www.wired.com/story/20-billion-xinbi-guarantee-uk-sanctions/