UK sanctions Xinbi marketplace linked to Asian scam centers

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HomeNewsSecurityUK sanctions Xinbi marketplace linked to Asian scam centers

UK sanctions Xinbi marketplace linked to Asian scam centers

By Sergiu Gatlan

March 26, 2026
11:42 AM
0

The United Kingdom's Foreign, Commonwealth and Development Office (FCDO) has sanctioned Xinbi, a Chinese-language online marketplace that sells stolen data and satellite internet equipment to scam networks in Southeast Asia.
The Telegram-based marketplace Xinbi is also believed to have helped North Korean threat actors launder cryptocurrency stolen in large heists from companies and individuals worldwide.
According to blockchain analysis firm Chainalysis, Xinbi has processed over $19.9 billion between 2021 and 2025, facilitating everything from unlicensed OTC trades and money laundering to the sale of stolen personal databases.
Today's sanctions also target #8 Park (a massive-scale scam compound linked by blockchain analytics firm Elliptic to the Prince Group crime ring) and Legend Innovation Co (the operator of #8 Park).
"Today the government has stepped up its fight against these scam centres, targeting the owners and operators of a recently identified facility known as '#8 Park,' believed to be Cambodia's largest scam compound, with capacity to accommodate 20,000 trafficked workers," the FCDO said on Thursday.
"The UK is also the first country to sanction Xinbi, one of the largest illicit marketplaces in Southeast Asia, which provides cryptocurrency-based services to scam centres – including #8 Park."
FCDO's sanctions aim to isolate Xinbi from the legitimate crypto ecosystem, disrupting its operations by making it impossible to send or receive cryptocurrency payments, as happened when the Byex Exchange cryptocurrency platform shut down after being sanctioned by the U.K. last year.

Xinbi connections with other illicit services and platforms (Chainalysis)
Scam centers across Myanmar, Cambodia, and Laos are criminal-run operations often operated by Chinese crime syndicates that coerce people (many of them foreigners) to become accomplices in large-scale criminal operations that target victims worldwide in cryptocurrency investment scams, also known as pig butchering or romance baiting.
They usually contact targets through social media, messaging apps, and dating sites, using stolen information bought from dedicated online platforms like Xinbi, to lure victims into fake investment schemes. However, the scammers steal the money by moving it into accounts they control rather than investing it.
"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," said Stephen Doughty, the U.K.'s Minister of State for Europe, North America and Overseas Territories.
"We must keep up the pressure on dirty money and those who benefit from it. At the Illicit Finance Summit in June, the UK will drive international action to tackle the ways in which ill-gotten profits are laundered and moved around the world."
Today's action follows another wave of seizures, asset freezes, and the shutdown of hundreds of scam centers in October 2025 after the FCDO and the U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) jointly sanctioned the Cambodian Prince Group crime ring and its leader, Chen Zhi. The U.S. Department of Justice also seized $15 billion in bitcoin from Zhi, who remains at large.

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Sergiu Gatlan
Sergiu is a news reporter who has covered the latest cybersecurity and technology developments for over a decade. Email or Twitter DMs for tips.

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The United Kingdom’s Foreign, Commonwealth, and Development Office (FCDO) has initiated sanctions against Xinbi, a Chinese-language online marketplace, in response to its facilitation of illicit activities and its connections to extensive scam networks operating primarily in Southeast Asia. This action, detailed in a report by Sergiu Gatlan, marks a significant escalation in the UK’s efforts to combat these criminal operations. The core of the sanction focuses on Xinbi, a marketplace known for selling stolen data, including personal databases, and satellite internet equipment, directly to scam organizations. Chainalysis data reveals over $19.9 billion in transactions processed through Xinbi between 2021 and 2025, encompassing illicit activities like unlicensed over-the-counter (OTC) trades, money laundering, and the distribution of stolen financial information.

These sanctions extend beyond Xinbi itself, targeting #8 Park, a massive-scale scam compound located in Cambodia, operated by the Prince Group crime ring, and Legend Innovation Co, the operator of #8 Park. The FCDO’s intervention is framed as a direct response to the exploitation of individuals, both domestically and internationally, through sophisticated scam schemes – particularly ‘pig butchering’ and romance baiting – facilitated by these networks. These scams typically involve the deceptive targeting of victims via social media, messaging apps, and dating sites, leveraging stolen data obtained through platforms like Xinbi to manipulate individuals into investing in fraudulent schemes. The ultimate outcome, as is often the case, remains the theft of victim's funds rather than legitimate investment returns.

Stephen Doughty, the UK’s Minister of State, emphasized the government’s determination to dismantle these illicit networks, highlighting the agency’s proactive stance in isolating Xinbi from the legitimate cryptocurrency ecosystem, mirroring the shutdown of the Byex Exchange following a previous UK sanction. This strategy—disrupting cryptocurrency payment channels—aims to severely curtail the operational capabilities of these criminal enterprises. The UK's action follows a prior combined effort with the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) that successfully seized $15 billion in Bitcoin from Chen Zhi, the leader of the Prince Group crime ring.

The sanctions align with the broader UK strategy to combat illicit finance, particularly as highlighted at the Illicit Finance Summit scheduled for June 2026, where the UK is aiming to drive international action. This reflects a coordinated global effort to disrupt the laundering and movement of illicit funds. The FCDO’s actions are spurred by concerns over human rights abuses occurring within these scam centers, which often house thousands of trafficked workers. The successful seizure of funds constitutes a significant win, and the continued pressure on this organization and those associated with it is a key objective.