UK Sanctions Crypto Network Linked to Southeast Asia Scam Centers

UK sanctions aim to cut crypto access and financial flows supporting scam centers and trafficking-linked fraud networks.

The UK government has widened its crackdown on crypto-fraud networks and trafficking in Southeast Asia. Fresh sanctions target a major illicit marketplace, a scam compound operator, and key figures linked to the Prince Group. Officials say the move aims to cut off money flows, freeze assets, and disrupt industrial-scale online scams.

UK Flags Xinbi as Major Hub for Money Laundering and Scam

British authorities have moved against a crypto-fueled fraud network, sanctioning Xinbi. The Chinese-language marketplace is accused of supporting large-scale scams across Southeast Asia. 

Officials say the platform enables fraud networks by selling stolen personal data and providing tools. These include communication services and satellite internet equipment, raising concerns about both financial crime and human rights.

According to Chainalysis, Xinbi handled more than $19.9 billion in transactions between 2021 and 2025. Regulators said that volume points to a major role in money laundering, unlicensed over-the-counter trading, and other illicit activity.

Moreover, Britain is the first country to sanction Xinbi, which it described as one of the largest illicit marketplaces serving scam centers in Southeast Asia.

British Sanctions Aim to Cut Crypto Access for Major Scam Networks

As stated in the announcement, officials also sanctioned Legend Innovation Co., which was named the operator of #8 Park in Cambodia. Regulators believe #8 Park is Cambodia’s largest scam compound and say it may hold up to 20,000 trafficked workers. Legend Innovation director Eang Soklim was also sanctioned.

Further targets include Thet Li, described as a key lieutenant of Prince Group chairman Chen Zhi, and Hu Xiaowei, a long-time associate tied to the group’s financial network. British officials said Hu used three different aliases.

Authorities linked both men to financial operations that supported scam activity across the region. Across Southeast Asia, scam centers have used romance fraud and other schemes to cheat victims on a large scale, including people in Britain.

Meanwhile, many people who are said to be carrying out the scams are trafficking victims themselves. Recruiters often lure victims with fake job offers, then force them into fraud under threats of violence and torture.

The UK government said its sanctions will cut Xinbi off from the legitimate crypto system and disrupt its ability to send and receive digital assets. Officials pointed to BYEX, another crypto platform used to launder scam proceeds, which shut down after British sanctions last year.

Sanctions Drive Crackdown as Cambodia Raids Thousands of Scam Sites

Previous action had already targeted the Prince Group and Chen Zhi in coordination with the United States. British officials said those earlier sanctions triggered investigations, arrests, and asset freezes across the region worth more than £1 billion. New sanctions add to that pressure and will freeze more property in London.

Assets affected by earlier and current action include a £100 million office block in the City of London, two multi-million-pound mansions, and a helicopter. Authorities said more London properties will now be frozen as part of the latest move.

Fraud Minister Lord Hanson said organised fraud networks operate across borders and target victims at scale. He said Britain’s new Online Crime Center will bring together police, intelligence agencies, and private firms to shut down channels used by scammers. 

The minister also pointed to the recently launched UK-backed INTERPOL Global Fraud Taskforce as part of a wider international response.

Following earlier British sanctions, Cambodia began its largest crackdown yet on the scam economy. Local authorities estimate that 2,500 sites have been raided. 

Also, hundreds of scam centers closed and tens of thousands of foreign nationals released. British officials said the new sanctions are meant to support action already underway in Cambodia and elsewhere in the region.