The United Kingdom announced sanctions targeting Xinbi, a Chinese-language crypto-enabled marketplace, and several linked individuals and entities as part of a broader crackdown on Southeast Asia scam centers and online fraud.

Sanctions extend to Legend Innovation Co., operator of #8 Park in Cambodia, and its director Eang Soklim, with #8 Park described as Cambodia’s largest scam compound potentially housing up to 20,000 trafficked workers.

Assets in the UK are frozen, including properties in London, joining previously frozen holdings such as a £100 million office block, two mansions, and a helicopter.

The government plans to establish an Online Crime Centre to coordinate law enforcement, intelligence, and private sector efforts against scam channels, and will push international action at the Illicit Finance Summit in June.

International collaboration accompanied the action, with involvement from the US OFAC and Europol, illustrating coordinated cross-border enforcement against crypto-enabled crime.

U.S. FBI and law-enforcement data show rising digital scam losses—exceeding $17.7 billion in 2025—with significant underreporting, and money-laundering networks largely separate from scam compounds.

Experts warn that vulnerability lies in underground money-laundering infrastructure, with Asian-based networks leading in infiltrating financial systems and challenging enforcement.

As context, traditional financial systems may launder an estimated 2-5% of global GDP, while less than 1% of crypto transactions are linked to illicit activity, with recent sanctions targeting other illicit crypto networks as well.

The sanctions are part of a broader strategy to target perpetrators and the infrastructure of global scam networks, aligning with upcoming international coordination at the Illicit Finance Summit.

Xinbi has moved and expanded, including its own XinbiPay, and has shown resilience by relocating channels and broadening its infrastructure.

Experts from Chainalysis and the UK FCDO emphasize that illicit crypto activity is distinct from legitimate markets and highlight the role of crypto rails in facilitating scams.

Analysts note Xinbi’s growing involvement in fraud, with transaction volumes rising from $42 million in 2023 to $89 million in the first half of 2024, and an increasing share of fraud-associated wallets.