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      ZachXBT questions whether UPay provided white-label crypto cards for Xinbi

      PANews reported on October 2 that ZachXBT publicly questioned the crypto payment and card-issuing platform UPay, alleging that it may have allowed the sanctioned illegal marketplace Xinbi to offer Visa crypto cards on a white-label basis, and demanded that UPay CEO Owen Yang explain the relationship between the two parties. Neither UPay nor Owen Yang has publicly responded so far.

      Earlier, on September 9, the U.S. Treasury Department's Office of Foreign Assets Control designated Xinbi as a significant transnational criminal organization and seized more than $52 million in crypto assets from Xinbi.


      Source: PANews
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      Terra Founder Do Kwon Sentenced to 15 Years in Prison for Fraud