UK Takes Action Against Crypto Scams Tied to Trafficking

The UK government recently froze assets linked to a major Southeast Asian scam network, including properties in London. The crackdown targets a crypto marketplace called Xinbi, accused of selling stolen personal data and helping launder money for North Korean hackers. Over $19 billion in crypto has flowed through Xinbi, making it one of the largest criminal marketplaces in the region. Behind the scams is #8 Park, a massive compound in Cambodia holding up to 20, 000 trafficking victims. The operation is tied to Prince Group, a large conglomerate whose leader, Chen Zi, was arrested and sent to China earlier this year. Two of his associates, Thet Li and Hu Xiaowei, were also hit with sanctions.

The UK’s move is part of a global push to dismantle these networks, which lure victims with fake romances and other tricks. Cambodia has already deported over 48, 000 people from scam centers and raided thousands of compounds. China, the US, and South Korea have pressured the region to act, with China even executing scam ringleaders in some cases. Experts say these scams aren’t just about theft—they’re part of a larger human trafficking crisis. Victims are forced to work in deceptive call centers, swindling people worldwide. Crypto’s role makes tracking funds harder, allowing criminals to move money quickly. London’s frozen properties are just the latest in a series of asset seizures. Earlier bans hit a $133 million office block, two mansions, and even a helicopter. The goal? Cut off the money and shut down these operations once and for all.

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