Colorado Firm Links to $8.4B Illicit Crypto Market, Triggering Security Concerns

A Colorado-based company, Xinbi Guarantee, has been linked to a massive illicit cryptocurrency marketplace facilitating over $8.4 billion in transactions primarily for Southeast Asian scammers. The platform’s rapid expansion, utilizing Telegram as its primary interface, attracted an estimated 233,000 users before being shut down by the messaging app in response to increased scrutiny.