UK Sanctions Cryptocurrency Exchange Xinbi

AirdropBlackHole · 2026-03-26T21:14:02+00:00

The UK has imposed sanctions on the illegal cryptocurrency market Xinbi and associated Southeast Asian scam networks. Xinbi processed $19.9 billion in illicit transactions, leading to actions against its operator and properties linked to these activities.

AirdropBlackHole

2026-03-26 21:14:02

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The UK Foreign, Commonwealth & Development Office and the Home Office jointly announced sanctions against the illegal cryptocurrency market Xinbi and individuals associated with Southeast Asian scam networks. According to data from blockchain analysis firm Chainalysis, Xinbi processed over $19.9 billion in transactions from 2021 to 2025, involving illegal activities such as money laundering, unlicensed over-the-counter trading, and the sale of stolen personal data. The UK is the first country in the world to impose sanctions on Xinbi. The sanctions also target Legend Innovation Co., the operator of the Cambodian ‘#8 Park’ scam base, and its leader Eang Soklim, which is believed to hold up to 20,000 trafficked workers. Meanwhile, several properties in London have been frozen, with previously seized assets including a £100 million office building, two luxury homes, and a helicopter.

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