UK Sanctions Crypto Marketplace Xinbi Over $19.9 Billion Fraud Empire

The UK government has taken a significant step in combating cryptocurrency-enabled scams by sanctioning Xinbi, a Chinese-language cryptocurrency marketplace.

According to Chainalysis data, Xinbi processed over $19.9 billion in illicit transactions between 2021 and 2025, facilitating money laundering, unlicensed over-the-counter crypto trading, and the sale of stolen personal data.

The sanctions also target the operator of Cambodia's #8 Park scam compound, believed to house up to 20,000 trafficked workers, and its director Eang Soklim. Several London properties will be frozen under the new measures, adding to previously seized UK assets.