The UK has imposed new sanctions on Southeast Asian scam networks, naming Chen Zhi and his long-time collaborator Hu Xiaowei, and sanctioning the cryptocurrency exchange "New Coin," alleging that it supports fraudulent activities.

The UK imposed sanctions on scam networks in Southeast Asia, including Hu Xiaowei, who is closely linked to the founder of the Cambodian royal prince group, Chen Zhiming, whom it refers to as "Wu Anming." It also stated that he is a long-term collaborator of Chen Zhiming and provides support. At the same time, a virtual currency trading platform was also sanctioned for offering crypto services that facilitate scams.

Chen Zhi, the founder of the Prince Group in Cambodia, has been detained on charges of fraud and other crimes. The UK has imposed sanctions on the group, with the sanctions list including his collaborator Hu Xiaowei. Chen Zhi had amassed a fortune through online fraud but was ultimately arrested and had his nationality revoked.

In January, Asian precious metals ETF net inflows were approximately $7.1 billion, mainly from Chinese retail investors, with Hu'an Yifu Gold ETF attracting $1.9 billion. Analysis indicates that the concentrated influx of retail investors is a late-stage market signal, and the short-term risk of gold price correction is increasing. The continuous growth in holdings is related to central bank purchases and capital inflows.

Kaito founder Yu Hu announced the discontinuation of Yaps and the incentive leaderboard, and the launch of Kaito Studio, shifting towards a more traditional multi-level marketing model. Meanwhile, the X team revised the API policy to ban applications that reward users for posting, in order to reduce platform spam. Yu Hu expects Kaito to surpass CT and cryptocurrencies by 2026.

BlockBeats News, January 16 — Kaito founder Yu Hu posted on X platform stating that KAITO will gradually discontinue YAPS and the incentive-based leaderboard, and will launch KAITO Studio. Kaito Studio will be more akin to a traditional tiered marketing platform, where brands will selectively collaborate with creators based on established standards and clearly defined project scopes.