The UK has moved to shut Xinbi out of its crypto market, extending restrictions beyond digital asset activity to its financial, commercial, and travel operations. Authorities also blacklisted several people and companies linked to the network, including Thet Li, Hu Xiaowei, who is tied to Cambodia’s #8 Park scam hub, and Legend Innovation together with executive Eang Soklim.
Sanctions Reach Exchanges, Custodians, and Payment Rails
According to the source material, those named are part of the broader Prince Group network, a business group with operations across Asia’s goods, finance, and services sectors and significant influence in Cambodia. After the asset freeze, any crypto transfer involving Xinbi that passes through UK-based exchanges, custodians, or payment networks is now strictly prohibited. Platforms and wallets that fail to comply face rapid blacklisting.
The UK Office of Financial Sanctions Implementation said the measures are aimed at large-scale fraud and money laundering carried out through Xinbi-linked networks. Blockchain analytics firm Chainalysis said Xinbi provided infrastructure for scam rings through a unit called “Black U.” The activities cited include unlicensed transactions, over-the-counter trading, sales of stolen database information, and procurement of satellite hardware. The report also points to Cambodia’s #8 Park operation, which allegedly used illegal labor, as a major funding source for Xinbi.
International Enforcement Was Already Underway
Before the UK publicly unveiled the sanctions, law enforcement agencies in multiple jurisdictions had already acted. A joint operation by the FBI and Thai police froze $580 million in cryptocurrencies tied to scam groups targeting the United States. The sequence matters. It shows that crypto-related enforcement is being handled through coordinated cross-border action rather than isolated national cases.
The sanctions on financial networks connected to Xinbi have also improved the ability of investigators to trace illicit assets, including networks managed by Thet Li and financed by Hu Xiaowei from #8 Park. Properties in London affiliated with the Prince Group have now been seized for a second time. Earlier action in 2025 first placed group leader Chen Zhi under British sanctions, and previous seizures covered more than £1 billion in assets, including a London office building valued at £100 million.
Monitoring Expands as Xinbi Has Shifted Platforms Before
Xinbi has a record of adjusting when its operations are disrupted. The source says it previously shifted to alternative applications such as SafeW and XinbiPay. The latest UK action, combined with ongoing blockchain monitoring by Chainalysis, is intended to keep Xinbi’s activity traceable regardless of which platform it turns to next. To widen the effect of the restrictions, exchanges following travel rule requirements are now expected to track new wallet clusters and application changes connected to Xinbi more closely.
The network has shown it can adapt, but the room it has to do so is narrowing under the latest restrictions. What stands out in the source material is the scale of coordination: regulators and law enforcement agencies are intensifying pressure on crypto-enabled fraud through broader international cooperation.