{"id":1919,"date":"2026-03-29T17:26:53","date_gmt":"2026-03-29T17:26:53","guid":{"rendered":"https:\/\/blog.coinsignals.net\/?p=1919"},"modified":"2026-03-29T17:26:53","modified_gmt":"2026-03-29T17:26:53","slug":"uk-targets-xinbi-over-alleged-role-in-global-crypto-scam-network","status":"publish","type":"post","link":"https:\/\/blog.coinsignals.net\/index.php\/2026\/03\/29\/uk-targets-xinbi-over-alleged-role-in-global-crypto-scam-network\/","title":{"rendered":"UK Targets Xinbi Over Alleged Role in Global Crypto Scam Network"},"content":{"rendered":"\n
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The United Kingdom, through the Foreign, Commonwealth and Development Office, has imposed sanctions on Xinbi, a Chinese language crypto marketplace linked to large scale fraud operations. Data from Chainalysis shows the platform handled nearly 20 billion dollars in transactions between 2021 and 2025.<\/p>\n\n\n\n

This move signals that UK authorities are focusing not only on individual scammers but also on dismantling the systems and platforms that enable widespread fraud across Southeast Asia.<\/p>\n\n\n\n

Xinbi Identified as Key Hub in Scam Operations<\/strong><\/p>\n\n\n\n

Chainalysis described Xinbi as a peer to peer marketplace that operates mainly through Telegram. The platform allows users to trade illegal goods and services using escrow features that protect transactions.<\/p>\n\n\n\n

Instead of typical products, sellers on Xinbi offer stolen personal data, tools for laundering money, scam related software, and even satellite internet equipment used to reach victims. The platform also reportedly provides guides and automated chat tools that help criminals deceive targets.<\/p>\n\n\n\n

UK Sanctions Expand to Linked Entities and Individuals<\/strong><\/p>\n\n\n\n

Alongside Xinbi, UK authorities also sanctioned Legend Innovation, the company behind a site known as number eight park, which has been described as one of Cambodia\u2019s largest scam centers. The facility is believed to house up to 20,000 trafficked workers.<\/p>\n\n\n\n

Two individuals connected to the Prince Group were also named. These include Thet Li, identified as a major financial operator, and Hu Xiaowei, who is accused of using multiple identities.<\/p>\n\n\n\n

Platform Activity Continued Despite Previous Crackdowns<\/strong><\/p>\n\n\n\n

According to Chainalysis, Xinbi processed about 19.9 billion dollars in crypto transactions over four years and maintained close links with other illicit services such as Huione and Tudou guarantee platforms.<\/p>\n\n\n\n

Authorities had previously pressured Telegram to shut down Xinbi related channels in 2025. However, the platform quickly adapted by creating new communication channels and keeping its website active. Blockchain data indicated that transaction activity remained largely unaffected during that crackdown.<\/p>\n\n\n\n

Authorities Increase Efforts Against Crypto Laundering Networks<\/strong><\/p>\n\n\n\n

Escrow marketplaces like Xinbi have been linked to moving large amounts of funds through major crypto exchanges, often tied to gambling, scams, and organized laundering schemes. One major network, Huione Group, reportedly processed over 24 billion dollars before being shut down last year.<\/p>\n\n\n\n

The UK\u2019s action against Xinbi reflects a broader strategy to combat crypto related crime by targeting the infrastructure that supports it. The sanctions were issued under a global human rights framework, with allegations that the platform supported operations involving abuse and exploitation within scam centers.<\/p>\n\n\n\n

In addition to sanctions, UK authorities are strengthening regulations and working closely with international partners. A joint effort with US agencies, including Office of Foreign Assets Control and Financial Crimes Enforcement Network, previously led to the shutdown of Huione Group and the launch of a 15 billion dollar civil forfeiture case.#crypto#cryptonews https:\/\/coinsignals.net<\/a> https:\/\/t.me\/coinsignalpublic<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The United Kingdom, through the Foreign, Commonwealth and Development Office, has imposed sanctions on Xinbi, a Chinese language crypto marketplace linked to large scale fraud operations....<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-1919","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/blog.coinsignals.net\/index.php\/wp-json\/wp\/v2\/posts\/1919","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blog.coinsignals.net\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.coinsignals.net\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.coinsignals.net\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.coinsignals.net\/index.php\/wp-json\/wp\/v2\/comments?post=1919"}],"version-history":[{"count":1,"href":"https:\/\/blog.coinsignals.net\/index.php\/wp-json\/wp\/v2\/posts\/1919\/revisions"}],"predecessor-version":[{"id":1921,"href":"https:\/\/blog.coinsignals.net\/index.php\/wp-json\/wp\/v2\/posts\/1919\/revisions\/1921"}],"wp:attachment":[{"href":"https:\/\/blog.coinsignals.net\/index.php\/wp-json\/wp\/v2\/media?parent=1919"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.coinsignals.net\/index.php\/wp-json\/wp\/v2\/categories?post=1919"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.coinsignals.net\/index.php\/wp-json\/wp\/v2\/tags?post=1919"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}