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The United States has imposed sanctions on a new coin guarantee platform, targeting two associated entities and 52 cryptocurrency addresses.
On September 9, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) imposed sanctions on Xinbi Guarantee, alleging that the platform was widely used by cybercriminals to facilitate online scams, fraud, money laundering, and other criminal activities targeting U.S. persons. OFAC added Xinbi Guarantee, 52 associated cryptocurrency addresses, and two companies that provided critical support to it to the sanctions list.
link: https://home.treasury.gov/news/press-releases/sb0624/
Sanction details
The U.S. Department of the Treasury stated that NewCoin Guarantee operates an illegal online marketplace, serving as a central hub that connects transnational criminal organizations—including operators of fraud schemes—with merchants providing financial services, technology, and other resources that support criminal activities. Fraud networks use this platform to procure various services, complete transactions, and carry out online crimes such as financial fraud, while NewCoin Guarantee provides escrow guarantee services within the platform to fraudsters, money laundering networks, and cybercrime groups.
NewCoin Guarantee was established around 2022 and has processed digital assets and fiat currency equivalents totaling over $24 billion in trading volume. After U.S. sanctions againstTaizi Groupand FinCEN adding Huwang Group to its list of primary money laundering concerns, Huwang’s guarantee services began shifting to other guarantee platforms to maintain operations.
The U.S. Department of the Treasury has determined that NewCoin Guarantee previously provided services to multiple entities sanctioned by OFAC, including Jinbei Group and related entities under the Taizi Group, and that these illicit activities have now been transferred to NewCoin Guarantee, which continues to provide substantially identical services to the same network of cybercriminals. As a result, NewCoin Guarantee has been designated as a significant transnational organized crime group operating overseas and is subject to sanctions.
In addition, SafeW Technology, the developer of the encrypted messaging app SafeW, and Anwen Technology, the developer of the NewPay wallet (also known as NewCoin Wallet), have been sanctioned for providing substantial assistance, sponsorship, or financial, material, technical support, and goods and services to NewCoin.
Sanctioned address analysis
This sanctions action includes 52 cryptocurrency addresses, compared to the addresses frozen by Tether on September 8.Tether’s large-scale frozen addressesOf the 50 addresses where USDT was frozen, only the address TThEzBN6SQ8ojyhofX6wahj13QkEdGGWXB is not on OFAC’s current sanctions list.
In addition to the 49 addresses frozen on September 8, three additional addresses have been added to the OFAC list:
- TW5tokvhEfrb77z98Rc8HqbkzQJ6sxYtGX
- TBKpozurdWLrbKkxtDqkveeq1dSB8Axj3V
- TKRNCETxbiMmyyMraCkgdXKdLr1ZkmKxV5 (Tether froze on September 9)
- An analysis of the above addresses using the on-chain AML platform Beosin KYT and the tracing tool Beosin Trace yielded the following results:
- 1、TThEzBN6SQ8ojyhofX6wahj13QkEdGGWXB
- This address is directly linked to the new coin escrow and was added to the UK Sanctions List (UKSL) on March 26, 2026. It functioned solely as a transit wallet, facilitating large-scale fund transfers to other new coin escrow addresses. Between September 4 and 7, the address received funds in batches totaling 24 million USDT, which were then transferred out in batches of 2 million USDT each; on September 8, Tether froze the remaining 4 million USDT in this address.
2. TW5tokvhEfrb77z98Rc8HqbkzQJ6sxYtGX
This address is a collateral deposit address for a new coin, listed on UKSL on March 26, 2026, and subsequently added to the OFAC sanctions list in this round of sanctions. The address has received 52,301 incoming transactions from 11,525 unique counterparties, exhibiting the “high-frequency aggregation” pattern typical of platform deposit collections, with a high concentration of outgoing transaction counterparties.
Beosin KYT transaction data chart
The address was active from July 31, 2025, to January 21, 2026, and ceased major activity after January, prior to the sanctions in March 2026 and the subsequent freezing of USDT and USDC.
3. TBKpozurdWLrbKkxtDqkveeq1dSB8Axj3V
This address is the collateral address for the new coin listing and was also added to the UKSL on March 26, 2026, and subsequently sanctioned by OFAC in this round of sanctions.
The address was primarily active from May 28, 2025, to September 1, 2025, exhibiting typical characteristics of a downlink address: receiving large lump-sum funds from custodial platforms, followed by distribution to numerous recipients (such as underground banks, fraudulent merchants, money laundering networks, or other high-risk custodial clusters).
4. TKRNCETxbiMmyyMraCkgdXKdLr1ZkmKxV5
This address is similar to TThEzBN6SQ8ojyhofX6wahj13QkEdGGWXB and serves solely as a transit wallet to split funds into smaller amounts and transfer them in batches to other transit wallets or downstream addresses.
The address was active from August 3, 2026, to August 15, 2026, prior to the freezing actions by Tether and Circle on September 9–10.
Conclusion
This sanction is a continuation of U.S. actions against the Taizi Group and its associated individuals in October 2025 and June 23, 2026, with OFAC designating multiple cryptocurrency addresses backed by Xinbi. For virtual asset service providers (VASPs), funds contaminated by Xinbi-backed assets may pose sanction risks. Building a blockchain AML system to identify illegal or high-risk collateral platforms and related entities in Southeast Asia, assess wallet address risks, and track virtual asset flows has become essential for VASPs.
Source: www.kucoin.com