Svmuu News: Following the theft of funds from 1.7 million Gate users, an on-chain investigation by security firm Bitrace revealed that after withdrawing the victims’ funds, the attackers transferred the stolen funds in multiple transactions to the same Newpay User address. This entity is a crypto payment tool launched by Xinbi Guarantee. Its predecessor was Xinbi Wallet, a non-KYC payment tool based on a Telegram bot in 2025. After Xinbi launched its in-house application, Xinbipay, that channel was shut down, and users were migrated to the mobile app. Finally, to circumvent regulation, it was renamed Newpay.
According to Bitrace monitoring, the entity’s total revenue has exceeded 1.6 billion USDT since it began operations, with its business scale experiencing significant growth following the collapse of Huiwang Group in late 2025. Following the collapse of the affiliated payment platform Taizi Group, former second-tier guarantee platforms—including Xinbi Guarantee, Jinbei Guarantee, Dali Guarantee, and Fuli Lai Guarantee—collectively carved up the Southeast Asian market.