UK cracks down on Southeast Asia scam hubs! Xinbi, a crypto platform involved in money laundering, faces sanctions and has handled nearly $20 billion in illegal transactions over four years.

The UK government announced a new round of sanctions targeting Southeast Asian scam networks, including for the first time listing the Chinese cryptocurrency exchange Xinbi, which is suspected of providing money laundering services. Blockchain analysis firm data shows that the platform has processed over $19.9 billion in illegal transactions. Additionally, operators of a Cambodian scam zone accused of holding over 10,000 trafficked workers were also fined.
(Background: Seized 127,000 Bitcoins! U.S. crackdown on Southeast Asia’s “Pig Butchering Empire” Prince Group, alongside sanctions on Huizhong Group)
(Additional background: Southeast Asian scam labor trafficking industry: crypto-based transaction platforms used to pressure and guarantee illegal car trades)

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• Xinbi processes nearly $20 billion in illegal transactions
• Targeting Cambodian scam zones, freezing London properties
• Cutting off the financial lifeline of global scam networks

The UK is expanding law enforcement efforts to combat Southeast Asian scam networks and human trafficking. On Thursday, the UK Foreign Office and Home Office jointly announced a new round of sanctions targeting the Chinese cryptocurrency platform Xinbi and several individuals and companies associated with large-scale scam zones.

Xinbi processes nearly $20 billion in illegal transactions

Xinbi is accused of providing critical crypto services for scam networks, including selling stolen personal data and offering satellite communication equipment to help target victims.

According to data from blockchain analysis firm Chainalysis, between 2021 and 2025, Xinbi handled over $19.9 billion in massive transactions. This staggering figure highlights the platform’s central role in facilitating money laundering, unlicensed OTC trades, and other illegal financial activities.

Targeting Cambodian scam zones, freezing London properties

To cut off the financial lifelines of these illegal organizations, the UK becomes the first country to sanction Xinbi, aiming to isolate it completely from the legitimate crypto ecosystem. Besides the exchange, the sanctions list includes Legend Innovation Co., operator of Cambodia’s large-scale scam zone “Zone #8,” and its responsible person Eang Soklim. The zone is believed to hold up to 20,000 trafficked workers.

Officials stated that the latest sanctions take effect immediately. Authorities will also freeze several properties in London, adding to previously seized UK assets—including office buildings worth £100 million (~$133 million), two luxury homes, and a helicopter. Notably, last year’s law enforcement actions targeting transnational financial networks resulted in over $1.3 billion in assets being frozen or confiscated.

Cutting off the financial lifeline of global scam networks

Many suspects involved in executing fake dating scams within these zones are themselves victims of human trafficking. They are lured by false job opportunities and coerced into scamming under brutal threats, with victims worldwide. UK Minister for Europe and North America Stephen Doughty emphasized that the UK will not tolerate these “horrific human rights abuses” in scam zones.

The UK government states that this action reflects a broader strategic approach, targeting not only individual criminals but also dismantling the infrastructure supporting global scam operations. The UK also plans to promote larger-scale international cooperation at the upcoming Anti-Financial Crime Summit in June to address cross-border money laundering and illicit fund flows.