UK Targets Scam Network to Freeze Cryptocurrency Assets and Expose Trafficked Workers in Southeast Asia

The UK government has intensified its fight against criminal networks operating illegal scam centres across Southeast Asia.

This latest action targets a notorious cryptocurrency network used to fuel fraud and human exploitation, signaling that the UK is taking a zero-tolerance approach to these cross-border crimes.

These measures come ahead of the UK’s Illicit Finance Summit in June, a major international event aimed at tackling dirty money and the global movement of illicit assets.

Cryptocurrency at the Heart of Modern Scam Operations

Authorities are focusing on a Chinese-language cryptocurrency marketplace called Xinbi, one of the largest in Southeast Asia.

The platform has been providing services to scam centres—including Cambodia’s largest, the so-called ‘#8 Park’ compound—allowing them to sell stolen personal data and access satellite internet tools to target victims worldwide.

By sanctioning Xinbi, the UK effectively isolates it from the legitimate crypto ecosystem, limiting its ability to conduct transactions.

This mirrors last year’s crackdown on BYEX, another crypto platform linked to scam operations, which shut down following UK sanctions.

The Human Cost Behind the Scams

Scam centres in Southeast Asia often operate on a disturbing scale.

Many of those running the operations are trafficked foreign nationals, lured with promises of legitimate work but trapped in purpose-built compounds where they are forced to defraud unsuspecting people.

Victims of these scams often include British nationals, and those coerced into perpetrating the fraud face threats of torture and extreme abuse.

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One major target today is ‘#8 Park’ in Cambodia, capable of housing 20,000 trafficked workers.

Its operator, Legend Innovation Co., and its director, Eang Soklim, are now sanctioned.

Individuals and Companies Targeted

The UK sanctions also hit key figures and entities connected to the Prince Group, a massive international scam network:

• Thet Li – Oversees the Prince Group’s financial operations in Taiwan.
• Hu Xiaowei – Longtime associate of Chen Zhi, operating under multiple aliases.
• Xinbi – Crypto marketplace facilitating fraud operations.
• BSquare Technology and Tian Xu International Technology – Linked companies supporting scam networks.
• Pang Weizhi and Wan Kuok Koi – Key operators in Southeast Asian scam enterprises.

In addition, several London properties—including mansions, office blocks, and even a helicopter—are frozen as part of the crackdown.

UK Officials Speak Out

Minister of State Stephen Doughty emphasized the message behind the sanctions: “We will not allow British people to become victims of these dreadful scams or tolerate the awful human rights abuses perpetrated in these scam centres.”

Lord Hanson, Fraud Minister, added that the launch of the UK’s Online Crime Centre, which brings together police, intelligence, and private sector partners, will strengthen efforts to shut down global scam operations.

Regional Impact: Cambodia Responds

Following the UK’s actions, Cambodia has launched its largest-ever crackdown on scam centres, raiding approximately 2,500 sites and closing hundreds of operations.

Tens of thousands of trafficked foreign nationals have been freed as a result.

The UK’s sanctions aim to complement these regional efforts, sending a clear international signal against criminal networks profiting from exploitation and fraud.

Impact and Consequences

• Isolates Xinbi and other platforms from legitimate cryptocurrency networks.
• Freezes assets connected to scam networks, including London-based properties.
• Supports the release of trafficked workers and the closure of scam compounds.
• Sends a warning to international criminal networks that exploiting people and laundering illicit funds will not be tolerated.

What’s Next?

The UK will continue pressing for global cooperation against dirty money at the upcoming Illicit Finance Summit in June.

Efforts will focus on cracking down on property and crypto-assets used to launder illicit profits and disrupt criminal networks worldwide.

Authorities are expected to continue monitoring Southeast Asia, identifying new scam centres, and coordinating with local governments to shut them down.

Summary

The UK’s latest sanctions target both the financial and operational backbone of scam centres across Southeast Asia.

By focusing on cryptocurrency platforms, trafficked labour compounds, and high-level network operators, these measures aim to protect British citizens, disrupt illicit networks, and support regional law enforcement efforts.

Bulleted Takeaways

• UK sanctions hit crypto marketplace Xinbi, scam compound #8 Park, and associated individuals.
• The move isolates these entities from legitimate financial systems.
• Hundreds of scam centres in Southeast Asia have been closed, freeing tens of thousands of trafficked workers.
• London properties linked to the network are frozen, including mansions and an office block.
• Upcoming Illicit Finance Summit will focus on tackling global dirty money flows.
• The UK is coordinating closely with regional authorities to dismantle cross-border scam operations.