According to The Block, sources revealed that Tether froze approximately $39.3 million in USDT across 10 Tron addresses linked to the Chinese escrow trading platform Xinbi Guarantee. TRM Labs previously described Xinbi as one of Southeast Asia’s largest illegal cryptocurrency marketplaces, estimating it had processed around $24.2 billion in transactions cumulatively. The USDT freeze was first disclosed by MistTrack, a blockchain tracking platform under SlowMist.
Tether Freezes $39.3M in USDT Linked to Xinbi Guarantee
TechFlowShare
Summary
Tether has frozen $39.3 million in USDT across 10 Tron addresses linked to Xinbi Guarantee, a Chinese-backed crypto collateral trading platform. Xinbi, known for its high trading volume, was identified by TRM Labs as one of Southeast Asia’s largest illicit crypto markets. The freeze was first reported by MistTrack, a blockchain tracking service under SlowMist. Altcoins to watch may shift as regulatory actions intensify against platforms with questionable trading practices.
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