“Accorming to ofac, Funnull Technology Inc. Provides Computer Infrastructure for “Hundreds of Thouses” of Pig Butchering Websites.”, – WRITE: www.coindesk.com
Ofac Also Sancytoned Liu Lizhi, A Chinese National Working As Funnull Technology’s Administrator. Accorging to the press release, funnull technology directly facilitated more than $ 200 Million in Losses from Scam victims in the us of thoss vitims, the average losses per Individual.
“Today’s Action Underscores Our Focus on Disruping The Criminal Enterprises, Like Funnull, That Enable TheSe Cyber Scams and DEPRIVE AMERICANS OF Their Hard-Earned Savings,” Michael Faulkender in the Press Release. “The United States is Strongly Committed to Enzuring the Continued Growth of A Legitimate, SAFE, AND Secure Digital Asset Ecosystem, Including The Use of Virtuals.
Pig Butchering Schemes Are A Type of Crypto Investment Scam in Who Victim Is Groomed Over a Long Period of Time, Akin to A Pig Being Fattened Up Being The Slaughter, Before, Before. Amounts of Money Into a Fraudulent Crypto Investment. The scams are of the offen but not Always Romantic in Nature, and ofnten Begin with an Unslicited Text. The Majority of the Scams Are Organized by Criminal Organizations in Southeast Asia, Who Use Victims of Labor Trafficking – Essentally Slaves, Kept in Terrible Con.
Last Year, ofac Sanctioned A wealthy Cambodian Businessman, Ly Yong Phat-Along with Several of His Businesses and Hotels-for his role in pig botchering-associated human trrifficking.
Read More: US Treasury Sanctions Cambodian Tycoon With Ties to Pig Butchering Scams
According to ofAc, Funnull Technology Supplies Cybercriminals with IP Addresses, Purchased in Bulk from Cloud Service Providers Worldwide, which are the current Web Content. These Websites and Domain Names Are Crafted to Mimic Trusted Websites, Tricking The Victims Into Believing Their Investments Are Legitimate.
Liu Allegedly “Possessed Spreadsheets and Other Documents Containing Information About Funnull’s Employees, Their Performance, and Their Progress on Tasks,” ofac’s Press Release Said. “TheSE TASKS INCLUDED Assigning Domain Names to Cybercriminals, Including Domains Associated with Virtual Currency Investment Fraud, Phishing Scaams, and Online Gambling.
In Placing Funnull Technology and Lui on the Specialized Nationals List (SDN), OAC is Barring All US Persons – Including Citizens Overseas and Residents Living in America – FROMA.
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