Elliptic Intelligence Used by the USSS to Take Action Against Xinbi, the $30 Billion Criminal Marketplace and Money Laundering Operation
9.9.2026 19:36:00 EEST | Business Wire | Press release
Elliptic, the global leader in risk intelligence for on-chain finance, today confirmed that it provided the intelligence used by the United States Secret Service in action taken today against the Xinbi marketplace.
The U.S. Secret Service froze wallets belonging to the marketplace and its merchants, containing $52.8 million in cryptoassets linked to Xinbi marketplace.
Elliptic provided the data and intelligence that no other provider could. The data was extracted from Elliptic’s Data Fabric Solutions into the USSS' systems, giving investigators the one hundred thousand-foot view, connecting on-chain and off-chain data to paint a full picture of illicit activity rather than a snapshot in one screen of data.
Data Fabric provides access to the same blockchain data and intelligence set behind Elliptic’s solutions, and that Elliptic’s own intelligence team used to expose both Huione and Xinbi before anyone else.
Since beginning operations in 2022, Xinbi Guarantee and its merchants have processed at least $24 billion in transactions, making it the second largest illicit online marketplace of all time. A closely-linked payments service, Xinbi Pay, has processed a further $6 billion.
This USSS action is the latest in a series of enforcement outcomes against online scam infrastructure and Chinese money laundering organizations built on Elliptic's intelligence, which was instrumental to Telegram's shutdown of Huione Guarantee in May 2025, the US Treasury's FinCEN designation of Huione Group as a primary money laundering concern, and UK sanctions against Xinbi in May 2026.
Simone Maini, CEO of Elliptic, said: “For years, Xinbi Guarantee exploited the gap between on-chain and off-chain data to stay hidden. Elliptic's intelligence closed that gap, giving investigators everything they needed to act. Today's action is proof of what government agencies and industry can achieve in partnership, and we will keep exposing these networks wherever they operate."
About Elliptic
Elliptic is the global leader in risk intelligence for on-chain finance, powering real-time compliance at agentic speed. Built for compliance from day one, our platform delivers the most comprehensive blockchain data and intelligence in the industry, combining unrivaled coverage, accuracy, and uptime so that exacting organizations can manage risk, achieve compliance, and power their intelligence operations with confidence.
Founded in 2013, Elliptic is headquartered in London with offices in New York, Washington, D.C., Miami, Dubai, Hong Kong, Singapore and Tokyo. To learn more, visit www.elliptic.co and follow us on LinkedIn and X.
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