Xinbi: The $8 Billion Colorado-Incorporated Marketplace for Pig-Butchering Scammers and North Korean Hackers
Xinbi: The $8 Billion Colorado-Incorporated Marketplace for Pig-Butchering Scammers and North Korean Hackers
www.elliptic.co Xinbi: The $8 Billion Colorado-Incorporated Marketplace for Pig-Butchering Scammers and North Korean Hackers
Xinbi Guarantee is a Chinese-language, Telegram-based marketplace for cyber fraudsters in Southeast Asia, dealing primarily in the USDT stablecoin. With $8.4 billion in transactions since 2022, it offers tools and services for scams, including money laundering, fake IDs, and stolen data. The platfor...
- Xinbi Guarantee is a Chinese-language, Telegram-based marketplace serving fraudsters in South East Asia, including those responsible for so-called “pig butchering” scams.
- Merchants on the marketplace sell technology, personal data and money laundering services. The USDT stablecoin is the primary payment method, with the market having received $8.4 billion in transactions to date. Some transactions can be linked to funds stolen by North Korea.
- Xinbi Guarantee claims to operate through Xinbi Co. Ltd, incorporated in Colorado.
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