Tether has frozen approximately $39.27 million in USDT across 10 TRON blockchain addresses linked to Xinbi Guarantee, a Telegram-based escrow platform, according to blockchain analytics firm MistTrack. The freeze, executed on September 8, 2026, involved 39,273,713 USDT and marks the second major action by the stablecoin issuer targeting Telegram-based guarantee services in recent months.
MistTrack Reports Freeze Details
MistTrack disclosed the enforcement action in a post on X (formerly Twitter), identifying the affected wallets and connecting them to Xinbi Guarantee, known in Chinese as 新币担保. The firm noted the move follows a previous freeze of funds associated with Huione Guarantee (汇旺担保), another Telegram-based escrow service.
Hours ago, Tether froze approximately 39,273,713 $USDT across 10 TRON addresses linked to Xinbi Guarantee新币担保.Following its freeze of 汇旺担保Huione-linked funds, this appears to mark another crackdown on illicit Telegram-based escrow platforms. https://t.co/07xAOUaQPm pic.twitter.com/927jgLK4jM
— MistTrack🕵️ (@MistTrack_io) September 8, 2026
Xinbi Guarantee Under Regulatory Scrutiny
Xinbi Guarantee emerged around 2022 as a Telegram-based marketplace reportedly connecting merchants with services linked to scams and money laundering. Blockchain investigators estimate that Xinbi-linked wallets have processed billions of dollars in USDT, with some estimates placing the total volume near $24 billion, the majority occurring on the TRON network.
In March 2026, the United Kingdom sanctioned Xinbi Guarantee over alleged links to scam compounds and human rights abuses. Despite the sanctions, reports indicate the platform continued operating through alternative channels.
Tether’s Centralized Control Over USDT
The freeze underscores Tether’s ability to blacklist specific blockchain addresses through its USDT smart contracts, effectively preventing those wallets from transferring the tokens. This mechanism highlights the centralized control the issuer maintains over the stablecoin’s supply.
As of publication, Tether had not publicly explained the rationale for the freeze or confirmed whether the action was taken in response to a law-enforcement request. The move may prompt operators to attempt shifting funds to alternative wallets or blockchain networks to circumvent restrictions.
Broader Crackdown on Illicit Escrow Services
The action against Xinbi Guarantee follows a pattern of increased scrutiny on Telegram-based escrow platforms accused of facilitating illicit cryptocurrency activity. The earlier freeze targeting Huione Guarantee-linked funds suggests a coordinated effort to disrupt financial infrastructure used by cybercrime networks operating in Southeast Asia and beyond.
