MistTrack reports $39M USDT frozen across Xinbi-linked wallets
Blockchain analytics firm MistTrack reports that Tether has frozen approximately 39.27 million USDT across 10 TRON addresses linked to Xinbi Guarantee, a Chinese-language Telegram escrow marketplace removed in May 2025. One address alone held over $10 million. Tether has not publicly confirmed the freeze or disclosed its reasoning. The action follows previous crackdowns on illicit Telegram-based guarantee networks, which TRM Labs estimates processed over $35 billion in USDT transactions.
MistTrack identifies frozen Xinbi wallets
▪Tether has not publicly confirmed the freeze of the 10 TRON addresses or disclosed the reason for the reported action as of September 9, 2026.
▪MistTrack identified the 10 TRON addresses on September 8, 2026, based on transaction patterns, wallet labels, and connections to "Guarantee Merchant" wallets.
▪On September 8, 2026, blockchain analytics firm MistTrack reported that Tether froze approximately 39.27 million USDT across 10 TRON addresses linked to Xinbi Guarantee.
▪One of the 10 TRON addresses identified by MistTrack, TWPma8xH48AEN93x2krdukV9e1j6sPsBeS, contained more than $10 million in USDT.
Xinbi Guarantee Telegram marketplace removal
▪Following Telegram's removal of Huione Guarantee, a Chinese-language marketplace known as Tudou Guarantee emerged, which Chinese authorities later took action against.
▪Xinbi Guarantee was a Chinese-language Telegram-based escrow and guarantee marketplace removed from Telegram in May 2025.
Guarantee marketplace illicit activity scrutiny
▪Blockchain intelligence firm TRM Labs estimated that guarantee marketplaces removed during Telegram's crackdown had processed more than $35 billion in USDT-denominated transactions.
▪Blockchain analytics firm Elliptic estimated that Huione Guarantee, a major Telegram-based marketplace, processed more than $27 billion in transactions before its removal.
Tether wallet restriction mechanisms
▪Tether's USDT infrastructure allows the issuer to restrict transfers from specific blockchain addresses, preventing the USDT held there from being freely transferred while keeping the transaction history visible.
▪The reported Xinbi-related restrictions differ from cases where Tether has publicly announced freezes following sanctions designations or law-enforcement actions.
Previous USDT sanctions freezes
▪The reported Xinbi-related wallets have not been publicly tied to a specific sanctions designation by Tether as of September 9, 2026.
▪In July 2026, Tether froze 131 TRON wallets containing more than $1.4 million in USDT after the U.S. Treasury's Office of Foreign Assets Control designated them under ISIS-K.
Debatable claims
▪Targeted wallet freezes are ineffective at dismantling illicit crypto networks
▪Tether should publicly disclose its reasons for freezing user wallets
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