Security· ★★★· bearish·

ZachXBT Accuses UPay of Providing White-Label Crypto Cards to Sanctioned Xinbi

  • —ZachXBT asked UPay CEO Owen Yang to explain ties to Xinbi
  • —He claims Xinbi may have issued Visa cards via UPay's white-label service
  • —On Sept. 9 OFAC designated Xinbi a major transnational criminal organization
  • —US authorities seized over $52 million in Xinbi crypto assets
Why it matters: The allegation links a legitimate crypto card issuer to a sanctioned marketplace, exposing UPay to regulatory scrutiny and reputational risk.
Source: PANews
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