The UK has moved to shut down a big crypto crime network by sanctioning Xinbi, a Chinese language crypto market and a Cambodia scam compound tied to trafficking.
Xinbi and what it did
Xinbi handled more than $19.9 billion in crypto between 2021 and 2025, according to Chainalysis. Officials say the market was used for money laundering, unlicensed over the counter crypto trading, selling stolen personal data and backing scam operations, including communications like satellite internet. Xinbi was part of a larger Telegram based criminal ecosystem that included Haowang Guarantee, described as the largest darknet market recorded. Together these networks let fraud groups scale up while staying harder to trace.
Cambodia compound and trafficking
The sanctions also target Legend Innovation Co., which runs the 8 Park compound in Cambodia a scam center reported to hold up to 20,000 trafficked workers. The UK named the compound director, Eang Soklim and linked the network to the Prince Group financial system, which was sanctioned by the UK and US last year.
UK assets frozen
Several London properties tied to the network will be frozen under the new measures adding to earlier seizures like a 100 million pound office building (about $127 million), two multi million pound mansions (roughly $2.5 million to $10 million each depending on exact values) and a helicopter. Officials say the goal is to cut off the money that keeps these scam operations running. MP Stephen Doughty said the steps protect people from fraud and address human rights abuses at scam centers. The sanctions took effect on March 26, 2026.
Wider push on crypto and trafficking
This move is part of growing global pressure on crypto's role in trafficking and scams in February 2026 a Chainalysis report found crypto flows to suspected trafficking services rose 85 percent in 2025, with stablecoins and Telegram based systems common across Southeast Asia. Law enforcement has stepped up action the FBI and Thai police recently froze $580 million in crypto tied to scam groups targeting US victims. UK officials plan to use the Xinbi findings at the Illicit Finance Summit in June to push international coordination on tracking and blocking illicit crypto flows.
