Cryptocurrency
UK Sanctions $20B Crypto Marketplace Linked to Scam Hubs
By Bullbit Editorial ยท March 28, 2026
- WhatThe UK has imposed sanctions on a $20B crypto marketplace called Xinbi, linked to scam hubs.
- WhyXinbi facilitated the sale of stolen personal data, money laundering tools, and satellite equipment to aid fraudsters.
- SignalThis move marks a significant crackdown on cryptocurrency-based illicit activities.
- TargetThe sanctions aim to disrupt Xinbi's operations and freeze its assets, estimated to be worth over $20B.
- RiskThe UK's action may set a precedent for other countries to follow, potentially increasing the risk for similar crypto marketplaces.
More breaking news โ