US EditionU.S. Sanctions Philippines Computer Company for Mass Crypto Scam
- On Thursday, the U.S. Treasury Department imposed sanctions on Funnull Technology, a company operating in the Philippines, along with its administrator Liu Lizhi, for their roles in facilitating cryptocurrency investment fraud schemes.
- These sanctions followed investigations that revealed Funnull provided IP addresses and infrastructure enabling cybercriminals to run mass 'pig butchering' crypto scams deceiving victims worldwide.
- In 2024, Funnnull acquired a web development code repository and intentionally modified it so that users accessing authentic websites were rerouted to fraudulent scam and gambling platforms connected to Chinese money laundering activities.
- U.S. Victims reported losses exceeding $200 million, averaging $150,000 per person, with 548 Funnull-related CNAMEs linked to over 332,000 domains identified by the FBI since January 2025.
- The sanctions block U.S. Transactions with Funnull and Lizhi, freeze their U.S. Assets, and emphasize disrupting cybercriminal networks, though experts say the lasting impact remains uncertain.
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The Straits Times
The Straits TimesUS sanctions Philippines digital infrastructure provider linked to virtual currency scams
WASHINGTON — The U.S. Treasury is placing under sanctions a Philippines-based company accused of providing internet infrastructure to a swathe of virtual
·Manila, Philippines
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TechCrunchReposted by 
IT Security News - cybersecurity, infosecurity news
IT Security News - cybersecurity, infosecurity newsUS government sanctions tech company involved in cyber scams
The Treasury said FUNNULL was involved in providing infrastructure for pig butchering crypto scams.
·United States
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