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UK Sanctions Crypto Marketplace Xinbi in Crackdown on Southeast Asian Scam Centers

Source: decrypt.co decrypt.co
News Snapshot:

In brief The UK has sanctioned cryptocurrency marketplace Xinbi, which provides services to scam centers including selling stolen personal data and satellite equipment. Sanctions also target #8 Park, believed to be Cambodia's largest scam compound with capacity for 20,000 trafficked workers. The move follows earlier UK actions against the Prince Group that triggered over £1 billion in asset freezes and closures of hundreds of scam centers. The UK government has sanctioned Xinbi, described as “one of the largest illicit marketplaces in Southeast Asia,” targeting its role in providing cryptocurrency-based services to scam centers that defraud victims worldwide while exploiting trafficked…

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