The UK has sanctioned crypto marketplace Xinbi and Cambodia’s #8 Park scam compound over a $19.9b fraud and trafficking network, freezing London assets ahead of June’s Illicit Finance Summit.
Summary
- The UK sanctioned Xinbi — the first country to do so — after Chainalysis data showed it processed over $19.9 billion in illicit transactions between 2021 and 2025.
- Sanctions also target the operator of Cambodia’s “#8 Park” scam compound, believed to house up to 20,000 trafficked workers, along with multiple frozen London properties.
- The action precedes the UK’s Illicit Finance Summit in June, where officials plan to push for greater international coordination…
