- Telegram’s ban led to $17.9 billion processed by Xinbi.
- Xinbi’s operations linked to illicit activities.
- Platform’s resilience post-ban contrasts industry declines.
Xinbi processed $17.9 billion in on-chain transactions after Telegram’s 2025 ban, driven by a 90% surge in daily inflows. The platform, tied to scam operations, utilizes anonymous swaps and XinbiPay, unlike competitors Huione and Haowang, which declined sharply.
Xinbi, a cryptocurrency escrow platform, processed $17.9 billion in transactions following Telegram’s ban in May 2025, as reported by TRM Labs.
Impact of the Telegram Ban
Following Telegram’s ban in May 2025, the Chinese-language cryptocurrency escrow service platform, Xinbi, processed $17.9 billion in on-chain transactions, including internal transfers and inflows. According to the TRM Labs Report Summary, this surge occurred even as the platform reportedly deals with cybercrime syndicates.
With leadership details remaining undisclosed, Xinbi operates without clearly identified founders or executives. This anonymity is consistent with its reported ties to scam operations and fraud networks within the crypto space.
Market Response
Post-ban, the immediate market impact was a notable 90% surge in daily inflows reported by TRM Labs, with Xinbi maintaining significant transaction volumes. Competitors like Huione and Haowang faced stark declines, contrasting Xinbi’s continued growth. Xinbi’s activities emphasize the clandestine nature of its operations, as the platform handles anonymous swaps and laundering using various cryptocurrencies. This ability to sustain operations despite regulatory pressures underscores potential systemic issues within the crypto industry.
Following the Telegram ban, Xinbi demonstrated resilience by quickly migrating to SafeW messaging app and launching XinbiPay, resulting in a rebound in transaction volumes. — TRM Labs Market Impact Analysis
User Migration to SafeW
As Xinbi transitioned its user base from Telegram to the SafeW messaging app, transaction volumes remained stable. The platform’s resilience reflects its adaptability amid systemic challenges posed by regulatory scrutiny.
The sustained operations following Telegram’s ban highlight potential technological and financial ramifications. Xinbi’s user migration channels illustrate adaptability to circumvent obstacles, reflecting broader industry trends in facing regulatory environments.
