Chinese-language online black markets have become one of the biggest drivers of cybercrime in history, processing tens of billions of dollars of illicit finance every year. Helping the trade in stolen data, money-laundering services, and even at times electrified shackles, these underground marketplaces have fueled scam operations and human trafficking around the world. Now, officials in the Unite...
The UK's sanctions against Xinbi Guarantee represent a significant blow to one of the biggest drivers of cybercrime in history. However, the marketplace has proven hard to disrupt and has rebuilt its presence on Telegram after being removed earlier. The sanctions are part of a broader effort by governments around the world to combat scam operations linked to Chinese organized crime groups. This effort includes sanctioning cryptocurrency marketplaces, working to disrupt crypto-based money launder...