The post UK Sanctions $20B Crypto Marketplace Linked to Scam Hubs appeared on BitcoinEthereumNews.com. Home » Crypto News Goods offered on Xinbi included stolenThe post UK Sanctions $20B Crypto Marketplace Linked to Scam Hubs appeared on BitcoinEthereumNews.com. Home » Crypto News Goods offered on Xinbi included stolen

UK Sanctions $20B Crypto Marketplace Linked to Scam Hubs

For feedback or concerns regarding this content, please contact us at [email protected]

Home » Crypto News


Goods offered on Xinbi included stolen personal data, money laundering tools, and satellite equipment to contact fraud victims.

‘;
}
function loadTrinityPlayer(targetWrapper, theme,extras=””) {
cleanupPlayer(targetWrapper); // Always clean first ✅
targetWrapper.classList.add(‘played’);
// Create script
const scriptEl = document.createElement(“script”);
scriptEl.setAttribute(“fetchpriority”, “high”);
scriptEl.setAttribute(“charset”, “UTF-8”);
const scriptURL = new URL(`https://trinitymedia.ai/player/trinity/2900019254/?themeAppearance=${theme}${extras}`);
scriptURL.searchParams.set(“pageURL”, window.location.href);
scriptEl.src = scriptURL.toString();
// Insert player
const placeholder = targetWrapper.querySelector(“.add-before-this”);
placeholder.parentNode.insertBefore(scriptEl, placeholder.nextSibling);
}
function getTheme() {
return document.body.classList.contains(“dark”) ? “dark” : “light”;
}
// Initial Load for Desktop
if (window.innerWidth > 768) {
const desktopBtn = document.getElementById(“desktopPlayBtn”);
if (desktopBtn) {
desktopBtn.addEventListener(“click”, function () {
const desktopWrapper = document.querySelector(“.desktop-player-wrapper.trinity-player-iframe-wrapper”);
if (desktopWrapper) loadTrinityPlayer(desktopWrapper, getTheme(),’&autoplay=1′);
});
}
}
// Mobile Button Click
const mobileBtn = document.getElementById(“mobilePlayBtn”);
if (mobileBtn) {
mobileBtn.addEventListener(“click”, function () {
const mobileWrapper = document.querySelector(“.mobile-player-wrapper.trinity-player-iframe-wrapper”);
if (mobileWrapper) loadTrinityPlayer(mobileWrapper, getTheme(),’&autoplay=1′);
});
}
function reInitButton(container,html){
container.innerHTML = ” + html;
}
// Theme switcher
const destroyButton = document.getElementById(“checkbox”);
if (destroyButton) {
destroyButton.addEventListener(“click”, () => {
setTimeout(() => {
const theme = getTheme();
if (window.innerWidth > 768) {
const desktopWrapper = document.querySelector(“.desktop-player-wrapper.trinity-player-iframe-wrapper”);
if(desktopWrapper.classList.contains(‘played’)){
loadTrinityPlayer(desktopWrapper, theme,’&autoplay=1′);
}else{
reInitButton(desktopWrapper,’Listen‘)
const desktopBtn = document.getElementById(“desktopPlayBtn”);
if (desktopBtn) {
desktopBtn.addEventListener(“click”, function () {
const desktopWrapper = document.querySelector(“.desktop-player-wrapper.trinity-player-iframe-wrapper”);
if (desktopWrapper) loadTrinityPlayer(desktopWrapper,theme,’&autoplay=1’);
});
}
}
} else {
const mobileWrapper = document.querySelector(“.mobile-player-wrapper.trinity-player-iframe-wrapper”);
if(mobileWrapper.classList.contains(‘played’)){
loadTrinityPlayer(mobileWrapper, theme,’&autoplay=1′);
}else{
const mobileBtn = document.getElementById(“mobilePlayBtn”);
if (mobileBtn) {
mobileBtn.addEventListener(“click”, function () {
const mobileWrapper = document.querySelector(“.mobile-player-wrapper.trinity-player-iframe-wrapper”);
if (mobileWrapper) loadTrinityPlayer(mobileWrapper,theme,’&autoplay=1′);
});
}
}
}
}, 100);
});
}
})();


Summarize with AI


Summarize with AI

Britain’s Foreign, Commonwealth and Development Office (FCDO) has sanctioned the Chinese-language crypto marketplace Xinbi, which blockchain analytics firm Chainalysis says processed nearly $20 billion in volume between 2021 and 2025.

The designation means that the UK government isn’t just targeting individual scammers but has taken aim at the financial infrastructure that keeps Southeast Asia’s industrial-scale fraud operations running.

The Platform’s Role in the Scam Supply Chain

According to Chainalysis, Xinbi is a peer-to-peer marketplace, mostly on Telegram, where criminals can buy and sell illegal goods and services with built-in escrow protections. Think of it as an online marketplace, except the vendors are not selling consumer goods. They are selling stolen personal data, money laundering services, scam software, and even satellite internet equipment used to contact fraud victims.

Alongside Xinbi, the FCDO also sanctioned Legend Innovation, the operator of #8 Park, described by the UK government as Cambodia’s largest scam facility with the capacity to accommodate 20,000 trafficked workers, as well as two individuals linked to the Prince Group: Thet Li, described as a key financial lieutenant, and Hu Xiaowei, who allegedly operated under three different aliases.

Per data provided by Chainalysis, the platform processed about $19.9 billion in crypto flows over a four-year period and was tightly linked with other illegal services such as the Huione and Tudou guarantee platforms. Furthermore, the firm reported that Xinbi was actively facilitating scams by giving criminals tutorials and chatbots to help them manipulate victims.

This is not the first time the network has been targeted, with authorities pushing Telegram to close the crypto escrow market’s channels in 2025. However, that action did little to stop it, as it quickly created new communication channels and ensured its website was still accessible. Even on-chain data showed that transaction volume on the platform didn’t drop during Telegram’s takedown action.

Crypto Laundering Networks Are a Growing Menace

Earlier in the year, CryptoPotato reported on how escrow markets like Xinbi sent millions to major crypto exchanges, with the funds coming from online gambling, scams, and large-scale laundering operations. One of the largest, Huione Group, is said to have processed transactions worth more than $24 billion before it was shut down mid-last year.

You may also like:

FCDO’s sanctioning of Xinbi highlights the increasing attempts to fight crypto-enabled fraud by directly targeting the rails and marketplaces that sustain it. The agency’s designation came under its Global Human Rights process, as it accused Xinbi of supporting entities that take part in torture and other human rights abuses within scam centers.

Apart from targeted designations, the UK is using several other measures to try to stop criminals from moving, cashing out, and spending stolen digital assets, including regulations and close law enforcement collaborations. One such joint action saw UK agencies team up with U.S. authorities, including OFAC and FinCEN, to shut down Huione Group and open a $15 billion civil forfeiture case against it.

SPECIAL OFFER (Exclusive)

Binance Free $600 (CryptoPotato Exclusive): Use this link to register a new account and receive $600 exclusive welcome offer on Binance (full details).

LIMITED OFFER for CryptoPotato readers at Bybit: Use this link to register and open a $500 FREE position on any coin!

Source: https://cryptopotato.com/uk-sanctions-20b-crypto-marketplace-linked-to-scam-hubs/

Market Opportunity
Helium Mobile Logo
Helium Mobile Price(MOBILE)
$0.0001532
$0.0001532$0.0001532
-2.54%
USD
Helium Mobile (MOBILE) Live Price Chart
Disclaimer: The articles reposted on this site are sourced from public platforms and are provided for informational purposes only. They do not necessarily reflect the views of MEXC. All rights remain with the original authors. If you believe any content infringes on third-party rights, please contact [email protected] for removal. MEXC makes no guarantees regarding the accuracy, completeness, or timeliness of the content and is not responsible for any actions taken based on the information provided. The content does not constitute financial, legal, or other professional advice, nor should it be considered a recommendation or endorsement by MEXC.

You May Also Like

Impact of Iran war on Filipinos: What happens now?

Impact of Iran war on Filipinos: What happens now?

The forecast is dire for Asia
Share
Rappler2026/03/29 08:03
How to earn from cloud mining: IeByte’s upgraded auto-cloud mining platform unlocks genuine passive earnings

How to earn from cloud mining: IeByte’s upgraded auto-cloud mining platform unlocks genuine passive earnings

The post How to earn from cloud mining: IeByte’s upgraded auto-cloud mining platform unlocks genuine passive earnings appeared on BitcoinEthereumNews.com. contributor Posted: September 17, 2025 As digital assets continue to reshape global finance, cloud mining has become one of the most effective ways for investors to generate stable passive income. Addressing the growing demand for simplicity, security, and profitability, IeByte has officially upgraded its fully automated cloud mining platform, empowering both beginners and experienced investors to earn Bitcoin, Dogecoin, and other mainstream cryptocurrencies without the need for hardware or technical expertise. Why cloud mining in 2025? Traditional crypto mining requires expensive hardware, high electricity costs, and constant maintenance. In 2025, with blockchain networks becoming more competitive, these barriers have grown even higher. Cloud mining solves this by allowing users to lease professional mining power remotely, eliminating the upfront costs and complexity. IeByte stands at the forefront of this transformation, offering investors a transparent and seamless path to daily earnings. IeByte’s upgraded auto-cloud mining platform With its latest upgrade, IeByte introduces: Full Automation: Mining contracts can be activated in just one click, with all processes handled by IeByte’s servers. Enhanced Security: Bank-grade encryption, cold wallets, and real-time monitoring protect every transaction. Scalable Options: From starter packages to high-level investment contracts, investors can choose the plan that matches their goals. Global Reach: Already trusted by users in over 100 countries. Mining contracts for 2025 IeByte offers a wide range of contracts tailored for every investor level. From entry-level plans with daily returns to premium high-yield packages, the platform ensures maximum accessibility. Contract Type Duration Price Daily Reward Total Earnings (Principal + Profit) Starter Contract 1 Day $200 $6 $200 + $6 + $10 bonus Bronze Basic Contract 2 Days $500 $13.5 $500 + $27 Bronze Basic Contract 3 Days $1,200 $36 $1,200 + $108 Silver Advanced Contract 1 Day $5,000 $175 $5,000 + $175 Silver Advanced Contract 2 Days $8,000 $320 $8,000 + $640 Silver…
Share
BitcoinEthereumNews2025/09/17 23:48
Coinbase Joins Ethereum Foundation to Back Open Intents Framework

Coinbase Joins Ethereum Foundation to Back Open Intents Framework

Coinbase Payments has joined the Open Intents Framework as a core contributor, working alongside Ethereum Foundation and other major players. The initiative aims to simplify complex multi-chain interactions through automated solver technology. The post Coinbase Joins Ethereum Foundation to Back Open Intents Framework appeared first on Coinspeaker.
Share
Coinspeaker2025/09/18 02:43