A Colorado-incorporated company was found linked to a Chinese illicit market facilitating billions in crypto transactions to Southeast Asian crooks. The Xinbi warranty received $8.4 billion in transactions, mainly in USDT. The market provided services like technology sales, money laundering, and data targeting. Xinbi claimed to offer investment and capital guarantees. Elliptic discovered Huione as another similar Chinese market involved in massive crypto transactions, leading to US Treasury designation for money laundering. These platforms reveal a significant underground Chinese-based banking system for large-scale money laundering.
https://altcoin.observer/illegal-crypto-market-of-8-billion-xinbi-incorporated-in-colorado-elliptic/
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