The U.S. Treasury sanctioned Philippines-based Funnull Tech for allegedly enabling a $200 million crypto scam through infrastructure support.
Chinese national Liu Lizhi was also sanctioned for his role in facilitating large-scale “pig butchering” fraud schemes.
The U.S. Treasury just hit Funnull Technology Inc.—a Philippines-based tech company—with sanctions for allegedly helping run a massive crypto scam that affected victims out of roughly $200 million. The move comes as U.S. authorities crack down harder on how crypto tools are being used to fuel organized online fraud.
How Funnull Got Caught Up in Pig Butchering Scams
The Treasury says Funnull played a crucial role in helping scam networks pull off what’s known as “pig butchering” schemes—where scammers build fake online relationships to win people’s trust, then convince them to dump money into bogus crypto investments. Funnull allegedly helped them scale by buying huge batches of IP addresses and
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