The UK has imposed sweeping new sanctions in an effort to disrupt large-scale crypto-financed scam operations and trafficking-linked fraud networks across Southeast Asia. British officials described the move as a direct response to the growing complexity and cross-border nature of crypto-fueled financial crime.
Xinbi Sanctioned As Key Marketplace In Criminal Networks
Authorities have blacklisted Xinbi, a Chinese-language crypto marketplace accused of facilitating illicit money flows and supporting scam centers throughout the region. Xinbi specializes in supplying stolen personal data, communications equipment, and satellite internet—services used by scam operators to evade law enforcement and target victims.
Data from blockchain analytics company Chainalysis placed Xinbi’s transaction volume at over $19.9 billion between 2021 and 2025. Regulators linked this activity to money laundering, unauthorized over-the-counter crypto trades, and broader financial crime. With the UK now the first country to officially sanction Xinbi, officials labeled it one of the most significant enablers for fraudulent operations targeting individuals and businesses in Southeast Asia.
Sanctions Expand To Key Operators And Financial Networks
The new measures also zero in on Legend Innovation Co., which officials identified as the operator of “#8 Park,” reportedly the largest scam compound in Cambodia. The site is said to hold up to 20,000 trafficked individuals forced to work in fraudulent online schemes. The company’s director, Eang Soklim, was included in the sanction list alongside Thet Li and Hu Xiaowei, two associates connected to the financial infrastructure of Prince Group. Hu was found to operate under several different identities to facilitate these activities.
The crackdown follows growing evidence linking Southeast Asian scam centers to romance fraud and similar online schemes targeting both local and international victims. Officials at multiple agencies have cited first-hand accounts indicating that many perpetrators are themselves victims of human trafficking, ensnared by fake jobs and coerced into online crime.
Prince Group is among Cambodia’s largest conglomerates, with business interests spanning real estate, finance, and hospitality. The UK previously took joint action with the United States against Prince Group and its chairman, Chen Zhi, as part of a broader push to counter regional scam operations linked to crypto infrastructure.
Previous Actions Trigger Raids And Asset Freezes
Earlier British sanctions on linked scam entities led to coordinated investigations, arrests, and asset freezes across Southeast Asia totaling more than £1 billion. Property affected by these enforcement measures includes a £100 million office block and two luxury mansions in London, as well as a helicopter. Authorities said the latest round of sanctions will now extend asset freezes to additional properties in the UK capital.
Fraud Minister Lord Hanson commented on the need for joint international responses to organized fraud, describing Britain’s new Online Crime Center as a vehicle for police agencies and private firms to shut down illicit crypto channels. He pointed to the UK-backed INTERPOL Global Fraud Taskforce, launched to enhance cross-border cooperation, as evidence of ongoing efforts to target scam networks globally.
Cambodia has responded to earlier British actions with the country’s largest-ever crackdown on online scams. Local authorities estimate 2,500 scam sites have been raided, with hundreds of centers shutting down and tens of thousands of trafficked workers released. British officials have indicated that the new sanctions are designed to reinforce these efforts and curb the region’s booming scam economy.
