On-chain enforcement in action: Frozen funds on new coin guarantee climb past $45 million, with scope expanding to related business addresses

- The latest reports indicate that, according to real-time monitoring by security firm Bitrace, USDT issuer Tether has frozen 50 blockchain addresses in a single move, including 22 business addresses belonging to Xinbi Guarantee—a leading illegal cryptocurrency transaction guarantee platform in Southeast Asia—with the total amount locked reaching as high as $45 million.

According to Bitrace's investigation, the primary targets of this freezing action are Xinbi Guarantee's recent business addresses (including pledge-in addresses, relay addresses, and pledge-out addresses), the withdrawal hot wallet addresses of Xpay, an illegal payment tool under Xinbi Guarantee, as well as third-party illegal entities that maintain close financial flows with Xinbi Guarantee. At least 22 business addresses under the Xinbi group, holding over $45 million, have been hit by this on-chain enforcement.

It is noted that the fundamental difference between this on-chain enforcement and the previous freezing of a single address linked to North Korean hackers via Huiwang Payment is that other related business addresses have also been included. Targeting Xinbi Guarantee itself, the freezing first affected business addresses that recently held operational funds, followed by the withdrawal hot wallets of its payment tool, and finally the addresses of certain partner merchants.

Bitrace also stated that, as of September 9, 2026, the on-chain enforcement activities by unidentified law enforcement agencies are still ongoing. After Xinbi Guarantee's addresses were frozen on the 8th, temporarily activated business addresses were also frozen that same evening, with an interval of less than 12 hours, indicating that on-chain enforcement continues.