Crypto Scams: The Philippines Firm Caught in a Web of Deceit and Sanctions! 🐷💰

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Ah, the U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) has decided to play the role of the vigilant guardian, taking aim at a certain Philippines-based company, Funnull Technology Inc. This firm, it seems, has been accused of facilitating a rather notorious crypto investment scam. Who knew that technology could be so… mischievous? 😏

In a statement that could rival the most dramatic of novels, the Treasury Department has declared that Funnull is facing sanctions for allegedly providing the very computer infrastructure that supports hundreds of thousands of websites engaged in the infamous pig butchering scams. Yes, you heard it right—pig butchering! 🐖

These crafty perpetrators, using fake identities, weave intricate online relationships with unsuspecting souls, luring them into the treacherous waters of fraudulent cryptocurrency investments. It’s a scheme that seems to have been plucked straight from the pages of a dark comedy, with criminal organizations from Southeast Asia playing the lead roles, exploiting victims of human trafficking. How charming! 🙄

Funnull, in its dubious glory, is said to purchase IP addresses from major cloud service providers, only to sell them to cybercriminals for hosting their nefarious platforms and malicious websites. A true entrepreneurial spirit, wouldn’t you agree? 💼

Moreover, this company has the audacity to offer services that facilitate impersonation of trusted brands, allowing these bad actors to swiftly change their domain names and IP addresses whenever the legitimate providers attempt to shut them down. Talk about a game of digital whack-a-mole! 🎭

Back in 2014, Funnull made headlines by acquiring and altering a repository of codes used by web developers, redirecting visitors from legitimate sites to scam and online gambling sites—some of which are linked to Chinese criminal money laundering operations. A plot twist worthy of a Turgenev novel! 📚

The Treasury Department has revealed that Funnull is connected to the majority of crypto investment scam websites reported to the FBI. U.S.-based victims claim to have lost over $200 million to these schemes, averaging a staggering $150,000 per individual. It seems the only thing growing faster than these scams is the victims’ bank account balances… in the wrong direction! 💸

And let us not forget the cherry on top: the OFAC is also imposing sanctions against Funnull’s administrator, the Chinese national Liu Lizhi, who was found in possession of documents detailing the company’s employees, including their performance and progress on tasks. A real page-turner, isn’t it? 📄

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2025-05-30 20:04