Investigation into the Theft of 1.7 Million Gate Users, Newpay's Total Revenue Exceeds 1.6 Billion USDT

After the theft involving 1.7 million Gate users, security company Bitrace found that the attackers transferred the stolen funds in multiple transactions to the same Newpay user address. Newpay is a cryptocurrency payment tool launched by a new coin, originally known as Xinbi Wallet, a Non-KYC payment tool based on Telegram Bot introduced in 2025, which was later renamed due to regulatory issues. Bitrace's monitoring shows that this entity has generated total revenue exceeding 1.6 billion USDT since its operation, with significant growth in business scale following the collapse of Huiwang Group in 2025. After the downfall of the Prince Group, leading guarantee platforms such as Newcoin Guarantee, Jinbei Guarantee, Dali Guarantee, and Welfare Guarantee have jointly divided the Southeast Asian market.

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