The UK has imposed sanctions on a crypto fraud network linked to Xinbi, a platform accused of helping criminal groups move funds across Southeast Asia. Authorities say Xinbi enabled anonymous transfers, helped route proceeds from fraudulent schemes, and served as a key venue for distributing stolen personal data used in cross-border crypto scams.
Under the new restrictions, Xinbi is cut off from authorized cryptocurrency infrastructure and financial systems under UK jurisdiction. Enforcement agencies expect the move to limit the platform’s operating capacity and disrupt the wider networks that relied on its services. The action follows earlier steps against other exchanges, including BYEX, showing that regulators are still targeting platforms suspected of supporting digital fraud.
Authorities tie Xinbi to fund transfers and scam operations
The source also links Xinbi to satellite communication tools used by scam call centers. Those tools allegedly allowed operators to reach potential victims outside their own jurisdictions, extending the reach of fraud rings well beyond local borders. Combined with crypto payment rails, that setup gave criminal groups a broader and more efficient operating model.
Officials describe Xinbi as a central node inside a larger criminal system. Anonymous crypto transfers, stolen personal information, and coordinated fraud activity were said to work together through the same infrastructure, making tracing and enforcement far more difficult.
Cambodia compounds drew scrutiny over trafficking and online fraud
Investigations also identified compounds in Cambodia and nearby countries where workers were allegedly lured under false promises and then forced into online scam operations. According to the report, some sites, including the large #8 Park complex, held thousands of trafficked people who were coerced into carrying out fraud aimed at international targets while living under inhumane conditions.
As part of the sanctions package, the UK listed Legend Innovation Co., the operator of #8 Park. The company is part of the broader Prince Group, which is now under heavier international scrutiny. Sanctions also cover individuals accused of directing or financially backing these operations, with the goal of disrupting leadership structures and illicit revenue flows.
Joint UK-US action has led to more than £1 billion in probes and seizures
British regulators coordinated closely with US counterparts in synchronized action against Prince Group and associated figures. The report says the joint effort has triggered investigations and seizures worth more than £1 billion, targeting assets and illicit gains connected to fraudulent activity.
Pressure has also pushed authorities in Cambodia to increase enforcement, shut down illegal facilities, and free trafficking victims. The UK says it plans to deepen international cooperation on financial crime and deploy new monitoring tools aimed at illicit crypto flows as the crackdown continues.