UK sanctions crypto-linked marketplace Xinbi amid crackdown on Southeast Asia scam centres
The UK imposed sanctions on Xinbi, a crypto marketplace, and individuals linked to scam operations in Southeast Asia to combat fraud and human rights abuses.Summary
The UK government has sanctioned Xinbi, a Chinese-language cryptocurrency marketplace, and associated individuals involved in large-scale scam operations across Southeast Asia. Xinbi reportedly processed nearly $20 billion in transactions between 2021 and 2025, facilitating money laundering and illicit trades. The sanctions also target Legend Innovation Co., operator of a major scam compound in Cambodia, and individuals connected to the Prince Group’s financial network. This action aims to disrupt the financial infrastructure supporting these scams, many of which involve human trafficking and exploitation. The UK is the first country to sanction Xinbi, freezing assets including London properties, and plans to push for greater international cooperation at the upcoming Illicit Finance Summit.
(Source：The Block)