UK Sanctions $20B Scam Network by Cutting Off Crypto Ties

The UK Foreign, Commonwealth & Development Office sanctioned Xinbi, a Chinese-language crypto guarantee marketplace that processed $19.9 billion in illicit flows between 2021 and 2025, cutting it off from the global crypto ecosystem effective March 26, 2026. The designation freezes all UK-linked assets, bars British banks, crypto firms, and individuals from transacting with the platform, and targets the on- and …