UK Sanctions Xinbi Crypto Market Tied to Asia Scam Rings
The UK sanctioned Xinbi, a crypto marketplace linked to Southeast Asia scam centres, on 26 March 2026. Six individuals and four entities were designated under the Global Human Rights sanctions regime.
UK targets illicit crypto platform in Southeast Asia
The United Kingdom sanctioned Xinbi, a crypto marketplace linked to organised scam operations in Southeast Asia, on 26 March 2026. The UK Foreign, Commonwealth and Development Office (FCDO) designated six individuals and four entities under its Global Human Rights sanctions regime. Crypto sanctions are government-imposed restrictions that freeze assets and block financial access for designated parties.
"Our sanctions today send a clear message: We will not allow British people to become victims of these dreadful scams or tolerate the awful human rights abuses perpetrated in these scam centres.", 26 March 2026. — Stephen Doughty, Minister of State for Europe, North America and Overseas Territories, UK Government
Xinbi processed an estimated $20 billion
Xinbi processed an estimated $20 billion in total transactions. This figure refers to Xinbi's own transaction volume and does not represent confirmed illicit proceeds. Blockchain analytics firm Chainalysis, which holds commercial relationships with law enforcement agencies, separately estimates that the broader Huione Group — a related but distinct network — received over $98 billion in total crypto inflows between August 2021 and January 2025. The US Treasury put confirmed illicit proceeds for Huione Group at $4 billion in November 2025.
Xinbi ranked among largest illicit marketplaces
The UK FCDO described Xinbi as one of the largest known illicit crypto marketplaces in Southeast Asia. The platform provided financial infrastructure to scam compound operators who subjected workers to torture and human rights abuses. Pig-butchering scams — fraud schemes where criminals build trust with victims before stealing their funds — form a major share of the criminal activity these marketplaces support.
Action follows prior US-UK enforcement against Prince Group
The March 2026 sanctions build on a joint US-UK operation from October and November 2025 that targeted the Prince Group, a Cambodia-based scam compound network led by chairman Chen Zhi. That earlier action resulted in arrests across the region and the freezing or seizure of assets worth over £1 billion. The US Treasury's Office of Foreign Assets Control (OFAC) sanctioned 146 Prince Group targets in that round. The UK applied the same Global Human Rights sanctions regime in both actions.
Cryptocurrencies are highly volatile and involve significant risk. You may lose part or all of your investment.
All information on Coinpaprika is provided for informational purposes only and does not constitute financial or investment advice. Always conduct your own research (DYOR) and consult a qualified financial advisor before making investment decisions.
Coinpaprika is not liable for any losses resulting from the use of this information.