TREE NEWS update: The US Secret Service froze $52.8 million in cryptocurrency linked to a Telegram-based marketplace implicated in global scams. The Treasury Department sanctioned the marketplace, while Xinbi, which allegedly processed $24 billion through the bazaar, called the freeze unfair. The action marks a significant enforcement step against illicit crypto activity.
US Secret Service Freezes $52.8M Crypto Tied to Telegram Scam Bazaar
AI take
This freeze signals a shift in enforcement tactics, targeting the infrastructure layer of crypto scams rather than just individual bad actors. The scale of the alleged processing volume suggests these marketplaces have become systemic channels for illicit funds, making this a test case for how regulators can disrupt them. The operator's pushback highlights the legal gray areas in cross-border crypto oversight, and whether this action deters similar platforms or simply drives them to more opaque channels is the key dynamic to watch.
Generated by AI for reference only.
Share on WeChat
Open WeChat → Scan → then tap "…" to send to a chat or Moments.
Tap "…" in the top-right corner to send to a chat or share to Moments.
Related News
2h ago
Binance Says It Has Recovered 90% of Stolen Assets
3h ago
Trump Says He Is Looking Into Binance, Not Concerned About It
6h ago
FBI: North Korea Behind Over $6B Binance Hack
7h ago
Name.com says 15 customer domains hijacked, all now restored; 10 linked to Vercel
8h ago
Jupiter Lend USDC Withdrawal Liquidity Rebounds to $27.9M
9h ago
Binance to Allocate 50% of SAFU Fund to Cover Losses