UK sanctions individuals associated with the Cambodian prince group and the illegal cryptocurrency platform "Xinbi"

TechubNews · 2026-03-29T03:56:38+00:00

The UK government imposed a new round of sanctions on Southeast Asian scam networks on March 26. The sanctions list includes Hu Xiaowei, a partner of Cambodian Prince Group founder Chen Zhi, and the cryptocurrency exchange "Xinbi," which is accused of providing services to scam centers.

TechubNews

2026-03-29 03:56:38

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Techub News reports that, according to Caixin, after the founder of the Prince Group in Cambodia, Chen Zhi, has been detained for more than two months, the UK government announced a new round of sanctions against Southeast Asian scam networks on March 26. The sanctions list includes Chen Zhi’s long-time collaborator, Hu Xiaowei (pseudonym “Wu Anming”), who is accused of supporting the Prince Group’s financial network through three different pseudonyms.

Additionally, the cryptocurrency trading platform “New Coin” is also included in this round of sanctions. The platform is considered one of the largest illegal collateral markets in Southeast Asia, handling over $19.9 billion in transactions between 2021 and 2025. The UK government stated that the platform provides cryptocurrency services to scam centers, sells stolen personal data, and has previously assisted in laundering cryptocurrency assets stolen by North Korean hackers. The aim of these sanctions is to isolate the platform from the legitimate cryptocurrency ecosystem and freeze its assets in the UK.

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