UK Sanctions Xinbi Guarantee for Crypto Scams and Human Trafficking; Telegram Continues Hosting

The messaging platform Telegram has hosted a Chinese-language black market called Xinbi Guarantee for three and a half years. This marketplace offers money laundering services for cryptocurrency scammers, products such as electrified batons and tasers linked to human trafficking operations, and other services including harassment-for-hire and prostitution.

Wired reported that the platform allowed the market to expand despite notifications of criminal activity.

Xinbi Guarantee has processed a total of $21 billion in transactions, according to cryptocurrency tracing firm Elliptic. The market operates publicly on Telegram and has grown to nearly half a million users. Elliptic's analysis indicates it serves as a primary venue for illicit financial activities in the cryptocurrency sector.

On March 26, 2026, the UK's Foreign, Commonwealth and Development Office sanctioned Xinbi Guarantee for its role in enabling scam centers in Southeast Asia. The sanctions notice stated that Xinbi has profited from operations involving forced labor and human trafficking.

These centers, located in countries including Myanmar, Cambodia, and Laos, involve organized syndicates that enslave individuals to conduct scams.

Post-Sanction Activity Nearly three weeks after the sanctions, Telegram had not removed Xinbi Guarantee's accounts as of April 14, 2026.

Elliptic reported $505 million in transactions on the platform in the 19 days following the sanctions. The market added tens of thousands of users during this period, reaching close to half a million in total. Elliptic's cofounder and chief scientist Tom Robinson stated that the market shows no signs of slowing.

He noted that Xinbi Guarantee is on track to become one of the largest platforms of its kind. The firm observed listings for products like tasers, handcuffs, and electrified batons as recently as the past month, which appear intended for use in human trafficking operations.

Xinbi Guarantee has also featured other illicit offerings, such as harassment services and listings for sex workers, including some as young as 14 or 16.

One recent listing shared by Elliptic included details on a 16-year-old sex worker, such as body measurements and available services. These activities contradict descriptions of the platform as a tool for legitimate financial transfers.

Telegram's Response and History Telegram did not respond to Wired's requests for comment on hosting Xinbi Guarantee after the UK sanctions.

In June 2025, a Telegram spokesperson justified hosting such markets by stating they provide alternative avenues for international fund transfers amid China's financial controls.

“We assess reports on a case-by-case basis and categorically reject blanket bans—particularly when users are attempting to circumvent oppressive restrictions imposed by authoritarian regimes.”

The spokesperson added that Telegram remains committed to user privacy and financial autonomy. However, Elliptic's findings show Xinbi is mainly used for money laundering in crypto scams, undermining this justification. Telegram previously banned Xinbi Guarantee and another market, Huione Guarantee, in 2025 after inquiries from Wired and Elliptic.

A Telegram spokesperson at the time stated that criminal activities like scamming and money laundering violate the platform's terms of service and are removed when discovered. Despite this, Xinbi Guarantee rebuilt its presence on Telegram over the following month.

Xinbi Guarantee has encouraged users to move to another platform called SafeW, but most activity remains on Telegram. Elliptic's Tom Robinson said replicating Telegram's user base would be challenging for SafeW. The market's continued operation on Telegram highlights ongoing challenges in moderating large-scale platforms for illicit content.

Security researcher Gary Warner, director of intelligence at cybersecurity firm DarkTower, has tracked Xinbi Guarantee. He described the platform's hosting of such markets as notable compared to other companies. Law enforcement agencies worldwide have not taken visible action against Telegram's role in these activities as of the latest reports.