The UK government sanctioned Xinbi, a Chinese-language crypto marketplace accused of enabling industrial-scale online fraud and human exploitation. Chainalysis estimates Xinbi processed about $19.9 billion between 2021 and 2025. The UK says Xinbi provided escrow-style services, sold victim data and satellite equipment to scam compounds such as Cambodia's '#8 Park'.
UK sanctions Chinese crypto marketplace tied to scam compounds
The British government sanctioned Xinbi, a Chinese-language cryptocurrency marketplace accused of enabling large-scale online fraud and human exploitation, in a move targeting the financial infrastructure behind global scam networks.
UK sanctions Xinbi marketplace linked to Asian scam centers
The United Kingdom's Foreign, Commonwealth and Development Office (FCDO) has sanctioned Xinbi, a Chinese-language cryptocurrency-based online marketplace that sells stolen data and satellite internet equipment to scam networks in Southeast Asia.