The Daily Hodl 2025-05-30 16:55:51

US Authorities Sanction Philippines-Based Firm for Allegedly Providing Computer Infrastructure for Crypto Pig Butchering Scams

The U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) is taking action against a Philippines-based company accused of facilitating a popular crypto investment scam. In a statement, the Treasury Department says that Funnull Technology Inc. is facing US sanctions for allegedly providing computer infrastructure to hundreds of thousands of websites engaged in pig butchering scams. Perpetrators of pig butchering scams use fake identities to build online relationships with unsuspecting individuals with the aim of introducing them to fraudulent cryptocurrency investment opportunities. Criminal organizations based in Southeast Asia largely carry out the scheme by exploiting victims of human trafficking. Funnull purportedly buys IP addresses from major cloud services companies and sells these to cybercriminals to host scam platforms and malicious websites. The company also provides services that make it easier for bad actors to impersonate trusted brands and allow them to quickly change to a different domain name and IP address when the legitimate providers attempt to take the websites down. In 2014, Funnull bought and altered a repository of codes used by web developers to redirect visitors of legitimate sites to scam and online gambling sites, some of which are associated with Chinese criminal money laundering operations. The Treasury Department says that Funnull has ties to the majority of the crypto investment scam websites that were reported to the FBI. US-based victims claim losing over $200 million to these schemes, or an average of $150,000 per individual. The OFAC is also imposing sanctions against Funnull’s administrator, Chinese national Liu Lizhi, who was in possession of documents that contain information about the company’s employees, including their performance and progress on tasks. Follow us on X , Facebook and Telegram Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox Check Price Action Surf The Daily Hodl Mix Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing. Generated Image: Midjourney The post US Authorities Sanction Philippines-Based Firm for Allegedly Providing Computer Infrastructure for Crypto Pig Butchering Scams appeared first on The Daily Hodl .

Наиболее читаемые новости

Jamie Dimon Advocates Defense Priorities Over...
2025-05-31
Earn $27,700 in 7 days? BTC holder reveals th...
2025-05-31
Pepe Makes It To Trump’s Feed—Is A Crypto End...
2025-05-31
Cardano’s (ADA) Weekly Dip Sends Investors Se...
2025-05-31
4 Best Crypto Coins for 2025 You Can’t Ignore...
2025-05-31
Best New Crypto to Buy: Are Smart Investors D...
2025-05-31
Floki Price Prediction for June 2025: Downtre...
2025-05-31
$2.7 Billion in Tokens Set to Unlock in June:...
2025-05-31

Связанные новости

Прочтите Отказ от ответственности : Весь контент, представленный на нашем сайте, гиперссылки, связанные приложения, форумы, блоги, учетные записи социальных сетей и другие платформы («Сайт») предназначен только для вашей общей информации, приобретенной у сторонних источников. Мы не предоставляем никаких гарантий в отношении нашего контента, включая, но не ограничиваясь, точность и обновление. Никакая часть содержания, которое мы предоставляем, представляет собой финансовый совет, юридическую консультацию или любую другую форму совета, предназначенную для вашей конкретной опоры для любых целей. Любое использование или доверие к нашему контенту осуществляется исключительно на свой страх и риск. Вы должны провести собственное исследование, просмотреть, проанализировать и проверить наш контент, прежде чем полагаться на них. Торговля - очень рискованная деятельность, которая может привести к серьезным потерям, поэтому проконсультируйтесь с вашим финансовым консультантом, прежде чем принимать какие-либо решения. Никакое содержание на нашем Сайте не предназначено для запроса или предложения