Blockchain analytics firm Chainalysis puts the number at close to $20 billion — the estimated volume of dirty money that flowed through Xinbi, a Chinese-language crypto marketplace, between 2021 and 2025. Now the UK government wants to shut it down.

Scam Hubs At The Center Of It All

Britain’s Foreign, Commonwealth & Development Office announced Thursday that it has imposed sweeping sanctions on Xinbi, a platform accused of providing crypto-based services, scam tools, and other criminal resources to bad actors across Southeast Asia.

The move freezes any UK-linked assets tied to the platform and bans British banks, crypto firms, and citizens from doing any business with it — financial or otherwise.

Xinbi is not just a payment processor…