Foresight News reports that the UK government has imposed new sanctions on a cryptocurrency exchange and individuals linked to a large-scale scam in Southeast Asia, intensifying its crackdown on online fraud and human rights abuses. The sanctions primarily target Xinbi, an illegal Chinese-language trading platform. The government states that the platform provided cryptocurrency-based services to fraud networks. Authorities say Xinbi facilitated the sale of stolen personal data and provided services to victims, including communication tools such as satellite internet devices.
The sanctions also target Legend Innovation Co., which operates "#8 Park" in Cambodia—a massive fraud operation believed to have held up to 20,000 trafficked laborers. Also targeted are Eang Soklim, a director of the company, and individuals linked to the Prince Group's financial network. The Prince Group was previously sanctioned by the UK and the US last year. Those sanctions resulted in the freezing and seizure of over £1 billion ($1.3 billion) in assets and triggered a series of investigations and arrests across the region.
