The United Kingdom has imposed sanctions on a major cryptocurrency marketplace and several individuals linked to a sprawling scam operation based in Southeast Asia. The measures target a network accused of using forced labor and human trafficking to fuel online fraud schemes generating billions of dollars.
At the heart of the crackdown is Xinbi, a Chinese-language marketplace operating on the Telegram messaging app. British authorities describe it as one of the largest illicit platforms in the region, handling over $19.9 billion in transactions between 2021 and 2025. The site reportedly provided services to scam compounds, including stolen personal data and satellite internet equipment used to contact victims.
The sanctions also target the Prince Group, a Cambodian conglomerate accused of running fraudulent centers. Its facility, known as 8 Park, is said to hold up to 20,000 trafficked workers, many of whom are foreign nationals lured with fake job offers. Once inside, they are forced to carry out online scams under threat of violence.
Key individuals blacklisted include Hu Xiaowei, a longtime associate of Prince Group leader Chen Zhi, who holds multiple citizenships and operated under three aliases. Also sanctioned is Li Thet, described as a key lieutenant managing the group’s international financial network, and Wang Xiaoyan, wife of casino operator Zhu Zhongbiao, who has deep ties to the conglomerate’s operations.
“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 centers,” said Stephen Doughty, the UK Minister of State for Europe, North America, and Overseas Territories.