The UK government has taken a significant step in combating global crypto-enabled fraud by imposing sanctions on the Xinbi Guarantee marketplace and related entities. The Foreign, Commonwealth and Development Office (FCDO) and Home Office designated Xinbi as a key enabler of crypto scams, marking the first time any country has sanctioned the platform. Authorities identified Xinbi as the largest scam compound in Cambodia, housing up to 20,000 workers, many of whom are victims of human trafficking.
Xinbi serves as a critical off-ramp infrastructure for laundering proceeds from romantic scams and "pig butchering" schemes. The Chinese-language marketplace combines P2P OTC tools, escrow services, and messaging to facilitate fast, coordinated cashouts, making transactions difficult to trace. According to blockchain analytics firm Chainalysis, Xinbi processed a staggering $19.9 billion in transactions between 2021 and 2025, with $17.9B processed during its active Telegram era alone.
Despite previous crackdowns on platforms like Huione Guarantee and Tudou Guarantee, Xinbi's activity doubled in the past year and accelerated further in early 2026. The platform has proven resilient, migrating its main communication to SafeW and utilizing the XinbiPay wallet after abandoning Telegram-based services. The UK's action aims to directly target this physical and digital infrastructure, which processes billions in illegally acquired crypto.
Sanctions also extend to Legend Innovation Co., the operator of the "#8 Park" scam compound in Cambodia, its director, and individuals linked to wider financial networks. This move is part of a broader enforcement strategy that has already resulted in asset freezes and seizures exceeding £1 billion. UK Minister of State Stephen Doughty stated the sanctions "send a clear message" against the scams and human rights abuses associated with these centers. The action precedes the UK's Illicit Finance Summit in June, highlighting a push for stronger international coordination against crypto-enabled illicit finance.
