The U.S. government has sanctioned FUNNULL, a firm implicated in facilitating "pig butchering" crypto scams that have resulted in over $200 million in losses for American victims. FUNNULL, run by Chinese-national Liu Lizhi from the Philippines, has been cited for creating domains and templates enabling cybercriminals to disguise themselves as legitimate entities. The Treasury noted these scams involve misleading individuals online, often through faux romantic interests, urging them to invest in fake cryptocurrency projects. The FBI has issued an alert about these activities, tying them to larger criminal operations, including money laundering.
"These services not only make it easier for cybercriminals to impersonate trusted brands when creating scam websites, but also allow them to quickly change to different domain names and IP addresses when legitimate providers attempt to take the websites down."
"The Treasury's Office of Foreign Assets Control announced the sanctions, saying FUNNULL is 'linked to the majority of virtual currency investment scam websites reported to the FBI.'"
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