The UK sanctions Xinbi case has put a major Chinese language crypto marketplace under pressure after British authorities moved to cut its access to financial services.
The UK government said Xinbi provided crypto based services, scam tools, and other illicit support to bad actors tied to scam centers in Southeast Asia.
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The action targets a network that officials say helped fraud operators move funds and maintain operations.
According to the UK’s Foreign, Commonwealth & Development Office, the sanctions freeze any UK assets linked to Xinbi. They also block the platform from the UK’s financial, trade, and travel systems. In addition, UK businesses, banks, crypto firms, and individuals cannot provide goods, services, loans, or investments to the sanctioned entity.
The UK said,
“The UK’s sanctions will isolate the platform from the legitimate crypto ecosystem, significantly disrupting its operations by affecting its ability to send and receive cryptocurrency transactions.”
That line shows the government is trying to cut the platform off from crypto access, not only from normal banking channels.
UK sanctions Xinbi after $19.9 billion in illicit flows
Blockchain analytics firm Chainalysis said Xinbi processed more than $19.9 billion between 2021 and 2025. The firm described the platform as a key part of a Chinese language scam infrastructure that supported money laundering, unlicensed OTC activity, stolen data sales, and other services used by fraud groups.
Chainalysis also said the UK is the first country to sanction Xinbi. It added that the platform supported scam centers, including #8 Park in Cambodia.
The UK government separately said Xinbi provided crypto based services to scam centers and helped enable the sale of stolen personal data and satellite internet equipment used to contact victims.
This detail matters because the UK sanctions Xinbi case goes beyond a simple wallet blacklist. Instead, it targets a marketplace that authorities say acted as part of the commercial structure behind fraud.
Chainalysis said such marketplaces help scam operators with payment facilitation and marketing services, which keeps the wider scam system running.
Xinbi sanctions also hit Prince Group linked figures
The sanctions package also named Thet Li and a person listed in the UK sanctions notice as An Ming Wu, who is also identified there with the alias Xiaowei Hu.
The UK said Thet Li was associated with Chen Zhi and the Prince Group and had provided financial services or funds to that network. The notice made similar claims about An Ming Wu.
The sanctions notice says Prince Group was involved in scam centers in Cambodia. It adds that treatment inside those centers amounted to serious human rights abuses, including conduct linked to forced labor. That is why the measures were issued under the UK’s Global Human Rights sanctions regime.
So, the Xinbi sanctions are part of a broader move. The UK is not only naming one crypto marketplace. It is also targeting people and entities that officials believe helped fund or support the scam center network around it.
Crypto scam crackdown targets market infrastructure
Chainalysis said the sanctions target the scam ecosystem’s on and off ramps. The firm wrote that these networks are “exploiting the efficient, borderless nature of crypto rails” and said blacklisting a Chinese language guarantee marketplace addresses the commercial services that sustain scam operators.
The UK government also said the action follows earlier sanctions on the Prince Group and Chen Zhi last year. According to the government, those earlier moves triggered investigations, arrests, and freezes or seizures of more than £1 billion in assets around the world.
That places the UK sanctions Xinbi story inside a wider enforcement push against scam center infrastructure. The focus is on the systems that help fraud groups collect money, move crypto, buy services, and stay connected across borders.
Tatevik Avetisyan is an editor at Kriptoworld who covers emerging crypto trends, blockchain innovation, and altcoin developments. She is passionate about breaking down complex stories for a global audience and making digital finance more accessible.
📅 Published: March 27, 2026 • 🕓 Last updated: March 27, 2026
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