Scams

The UK Foreign, Commonwealth & Development Office announced Thursday that it has sanctioned Xinbi, a Chinese-language crypto marketplace accused of supporting fraud operators across Southeast Asia. Chainalysis estimates nearly $20 billion in illicit funds moved through the platform between 2021 and 2025, and the measures freeze UK-linked assets while barring UK banks, crypto firms, and citizens from dealing with it.

The UK government has sanctioned Xinbi, a Chinese-language crypto “guarantee marketplace,” aiming to cut the platform off from what it described as the legitimate crypto ecosystem. The measures include freezing any UK-linked assets and banning UK businesses and individuals from providing goods, services, loans or investments to Xinbi. Chainalysis estimates Xinbi processed more than $19.9 billion in illicit flows between 2021 and 2025.

The UK government has sanctioned Xinbi, a crypto-linked marketplace it says supported scam centres across Southeast Asia. Announced in a statement on 26 March, the measures aim to cut the platform off from legitimate crypto rails by restricting its ability to send and receive funds. The action also targets people and entities connected to the "#8 Park" compound in Cambodia, which is believed to have capacity for up to 20,000 workers.

On March 26, 2026, Essen Medical Associates agreed to pay $4 million to resolve a class-action lawsuit tied to a data breach affecting current or former patients. Eligible class members can seek up to $5,000 for documented losses, or choose a $100 payment without providing proof; key deadlines run from May 4 to July 7.

The UK government announced new sanctions on Thursday targeting Xinbi, a Chinese-language marketplace it says provides crypto-based services that support scam networks, alongside people linked to Cambodia's "#8 Park" compound. The package also names Legend Innovation Co., its director Eang Soklim and individuals tied to the Prince Group's financial network, and includes freezing several London properties as authorities seek to curb illicit financial flows and the trade in stolen data.

A dispute before the UK High Court involves an alleged theft of 2,323 Bitcoin (BTC), valued at about $176 million, after a seed phrase was reportedly obtained through covert recording rather than hacking. The claimant, Ping Fai Yuen, says his estranged wife Fun Yung Li and her sister accessed his wallet recovery details and later moved the BTC to 71 separate addresses. No further on-chain movements have been observed since Dec. 21, 2023, and the proceedings remain ongoing.

Blockchain investigator ZachXBT says a coordinated set of X accounts exploited Middle East war-related narratives to drive traffic into crypto scams. He said the cluster promoted a pump-and-dump token called $ORAMAMA on February 22, 2026 and that onchain evidence indicates the operation made six-figure profits. After his posts, he said X appeared to suspend 16 accounts tied to the activity.

A federal grand jury in Ohio indicted two Chinese pharmaceutical companies and six Chinese nationals over alleged fentanyl precursor trafficking and money laundering, after investigators said customers were told to pay through crypto wallets controlled by the defendants. The case, tied to the FBI's Operation Box Cutter, also includes charges against three defendants for allegedly seeking to provide material support to a Mexican cartel designated as a foreign terrorist organization.

UK Prime Minister Keir Starmer said political parties will be barred with immediate effect from taking cryptocurrency donations. The move follows a review that also proposes limiting annual donations from British citizens living abroad to between £100,000 and £300,000, alongside tighter checks on funding sources.

On March 23, 2026, the U.S. Department of the Treasury announced sanctions targeting a North Korea-linked network accused of using data-extortion tactics against businesses. The action covers six individuals and two companies tied to an alleged $800,000,000 fraud haul in 2024, including a Vietnam-based entity said to have converted illicit proceeds into crypto assets.