The UK has sanctioned Xinbi, a cryptocurrency black market platform, as part of its efforts to combat fraud money networks in Southeast Asia.

On March 26, The Block reported that the UK government announced sanctions against Xinbi, a cryptocurrency illicit marketplace, and its affiliated individuals and entities. The sanctions allege that Xinbi provided communication services such as encrypted payments, trading of stolen goods, and satellite internet to large-scale fraud rings in Southeast Asia, including Cambodia's "#8 Park." Chainalysis data shows that Xinbi processed over $19.9 billion in transactions between 2021 and 2025, allegedly used for money laundering and over-the-counter illegal transactions. The sanctions also affect the operator, Legend Innovation Co., its head, Eang Soklim, and the Prince Group financial network, which was previously sanctioned by the UK and the US. Related assets, including multiple properties in London, will be frozen.