Xinbi sanctions + gaming scams
Newsletter #18. March 29, 2026.
- Scamurai -
Newsletter #18. March 29, 2026.
// Xinbi sanctions
The UK has announced sanctions targeting an online marketplace and individuals linked to large-scale scamming operations in Southeast Asia.
The measures, unveiled on March 26, focus on Xinbi, one of the largest illicit marketplaces, as well as entities and individuals connected to scam compounds in Cambodia. The action forms part of a broader effort to dismantle industrialised fraud networks operating across the region.
Xinbi operates similarly to marketplaces such as Huione Guarantee — which was sanctioned last year — and Tudou Guarantee. It has networks of Telegram groups offering money laundering services, SIM cards, advertising jobs and website design. A Chinese-language platform, it is also accused of facilitating scam operations by providing cryptocurrency-based services, the sale of stolen personal data, and access to satellite internet equipment.
The platform has processed at least $19.7 billion in cryptoasset inflows, according to Elliptic, placing it among the largest illicit marketplaces of its kind. Like Huione, it also has a nascent crypto project, having launched its NewPay wallet (the name is a loose translation of Xinbi), which it falsely claims is regulated by FinCEN.
Also targeted is Legend Innovation Co., the operator of a facility known as “#8 Park”, which has been identified as one of Cambodia’s largest scam compounds. The site is believed to have the capacity to hold up to 20,000 trafficked workers. The company’s director, Eang Soklim, has been designated as part of the action.
Additional individuals sanctioned include Thet Li, an associate of sanctioned businessman Chen Zhi, and Hu Xiaowei, another long-term associate alleged to have operated within the same financial network under multiple aliases. The UK also announced measures against Wang Xiaoyan, the wife of previously sanctioned Zhu Zhongbiao; BSquare Technology, a company linked to the Prince Group’s cryptocurrency platform BYEX; Tian Xu International Technology, a Cambodian firm connected to BSquare; Pang Weizhi, a businessman associated with Tian Xu; and Wan Kuok-koi, a former triad leader from Macau also known as “Broken Tooth”, who is alleged to have been involved in scam operations in Myanmar.
Officials said the new sanctions would result in the freezing of several London-based properties linked to the network. These add to assets already frozen in previous actions, including a £100 million office building in the City of London, two multi-million-pound mansions and a helicopter.
The measures build on action taken last year by the UK in coordination with the US targeting the Prince Group and its chairman Chen Zhi. Those sanctions triggered widespread investigations, arrests, and asset seizures across the region, with more than £1 billion in assets frozen.
Related stories
// The case for why AI turning on its master would be a good thing
// Other news
Campaigners welcome Meta and YouTube’s defeat in landmark social media addiction trial - BBC
Your vape wants to know how old you are - Wired
Cloud phones: the invisible threat - IB-Group
Nigel Farage Cameo videos backed cryptocurrencies that collapsed in value - The Guardian
Meta’s $27 billion AI data center is causing chaos in small town Louisiana - Fortune
Retirees are more vulnerable to cyber scams but not for the reasons you think - WSJ
India arrests suspect tied to Myanmar crypto scam compounds - Decrypt
I write about scammers. Now, they are writing as me - The Straits Times
Remote extortion: the Cambodia ‘hotel confinement’ scam - Mekong Independent
Surely if you rule the manosphere, you can be your own boss? These influencers aren’t even that - The Guardian
// Podcast
Episode #8 of the Scamurai podcast features Ron Kerbs, CEO of scam prevention company Kidas. We talk about gaming scams, what companies are doing to prevent scams online and why scammers might send you a free laptop.
Scamurai on Spotify / Apple Podcasts
// Info requests
Got a couple of projects I’m working on at the moment.
I’m still digging into Jom Vimolnoht and KXVC. I’m particularly interested in trying to understand who at KXVC knew about Jom’s fake investments and when they knew it. Know something? Message me.
I’m also doing research into a startup in Singapore that hasn’t been paying its staff and is sending out very aggressive legal letters to anyone who mentions them online. It’s too early to put the name out yet, but if you’re familiar with a tech founder that hasn’t been paying his debts (including to his escorts) and is very trigger-happy with a ChatGPT-generated cease-and-desist, send me a message.
Get this newsletter straight to your inbox every week by subscribing. Tips, vitriol and all other messages should be directed to Callan Quinn at callan@scamurai.io. Got a story you want investigated? Message me.