Svmuu News The United Kingdom has announced sanctions against the illegal crypto asset-related trading platform Xinbi, targeting multiple individuals and entities in an effort to combat large-scale scams and related human rights issues in Southeast Asia. The measures were jointly issued by the UK's Foreign Office and Home Office. Officials stated that Xinbi provides crypto payments and related services to scam networks, including the sale of stolen personal data and communication tools (such as satellite internet equipment). Data from blockchain analytics firm Chainalysis shows that between 2021 and 2025, the platform processed transaction volumes exceeding $19.9 billion, involving activities such as money laundering and illegal over-the-counter trading.
The sanctions also cover the operator of the Cambodian scam compound "#8 Park," Legend Innovation Co., and its head, and extend to individuals connected to the Prince Group financial network. The UK had previously, in conjunction with the United States, imposed sanctions on this network, resulting in the freezing and seizure of assets totaling over £1 billion. (The Block)