The UK has widened its crackdown on crypto-enabled fraud networks by sanctioning Xinbi, a Chinese-language crypto marketplace accused of supporting illicit financial flows across Southeast Asia. Authorities said the platform helped scam compounds by supplying stolen personal data, communications equipment, and satellite internet services used to avoid detection and reach victims. According to Chainalysis, Xinbi processed more than $19.9 billion in transactions between 2021 and 2025.
British officials linked that activity to money laundering, unauthorized over-the-counter crypto trading, and wider financial crime. The UK said it is the first country to formally sanction Xinbi, describing it as one of the most significant support channels behind fraud operations targeting individuals and businesses in the region.
Sanctions extend to Cambodia-based operators and associates
The new package also targets Legend Innovation Co., which officials identified as the operator of “#8 Park” in Cambodia. Authorities said the site is believed to be the country’s largest scam compound and may hold up to 20,000 trafficked people forced into online fraud work. The company’s director, Eang Soklim, was added to the sanctions list as well.
Two figures tied to the financial infrastructure of Prince Group, Thet Li and Hu Xiaowei, were also named. Officials said Hu Xiaowei operated under several identities in support of the network. The action comes as agencies across multiple jurisdictions have pointed to growing links between Southeast Asian scam centers and romance fraud, along with other online schemes that hit both domestic and overseas victims.
Earlier UK action led to arrests and asset freezes
British authorities said previous sanctions on connected scam entities helped trigger coordinated investigations, arrests, and asset freezes across Southeast Asia totaling more than £1 billion. Properties affected by those measures included a £100 million office block in London, two luxury mansions, and a helicopter. The latest sanctions will now expand asset freezes to additional properties in the UK capital.
Fraud Minister Lord Hanson said organized fraud requires joint international responses. He pointed to Britain’s new Online Crime Center as a mechanism for police bodies and private firms to shut down illicit crypto channels. He also cited the UK-backed INTERPOL Global Fraud Taskforce as part of the current cross-border enforcement framework.
Cambodia has already launched a sweeping anti-scam operation
Following earlier British actions, Cambodia carried out what officials described as the country’s largest-ever crackdown on online scams. Local authorities estimated that 2,500 scam sites had been raided, with hundreds of centers shut down and tens of thousands of trafficked workers released. British officials said the latest sanctions are meant to reinforce that campaign and disrupt the region’s expanding scam economy.