Xinbi processed $17.9 billion in crypto transactions despite Telegram ban in 2025

Xinbi processed 17.9 billion in transactions

Xinbi, a Chinese-language guarantee service, processed $17.9 billion in cryptocurrency transaction volume despite enforcement actions. TRM Labs, a blockchain intelligence firm, reported the figure on 5 February 2026. The total reflects gross onchain transaction volume processed by wallets linked to Xinbi. This includes inflows, outflows and internal transfers between accounts.

Telegram banned service in spring 2025

Telegram shut down clusters of Chinese-language guarantee services in May 2025. Xinbi Guarantee and Huione Guarantee channels became inactive after the messaging platform enforced the ban. Reuters confirmed on 15 May 2025 that both services appeared offline. Xinbi later returned to Telegram and experienced a 90% surge in daily cryptocurrency inflows after reappearing. The platform then migrated again in January 2026.

"Guarantee services like Xinbi are learning to survive enforcement by fragmenting across platforms and building their own infrastructure", 5 February 2026. — Ari Redbord, Global Head of Policy, TRM Labs

Prior reports documented billions in stablecoin flows

Blockchain analytics firm Elliptic identified thousands of cryptocurrency addresses used by Xinbi Guarantee in May 2025. These addresses received at least $8.4 billion in USDT stablecoin since 2022. USDT is Tether, a cryptocurrency pegged to the US dollar. Elliptic published these findings on 12 May 2025. Wired and other outlets corroborated the figure within 24 hours.