Jun 2, 05:09 PM

US Treasury Sanctions Philippines’ Funnull Technology, Administrator Liu Lizhi Over $200 Million ‘Pig Butchering’ Crypto Scam

The U.S. Treasury Department has imposed sanctions on Philippines-based Funnull Technology and its administrator, Liu Lizhi, for allegedly providing infrastructure that facilitated thousands of cryptocurrency investment scams, commonly referred to as "pig butchering." These scams have resulted in losses totaling approximately $200 million. The action is part of broader U.S. efforts to combat cyber scams, with the FBI issuing alerts related to the sanctioned company's activities. The sanctions highlight ongoing concerns over cyber-enabled financial fraud and the use of technology platforms to perpetrate large-scale investment scams.

#Philippines #Funnull Technology #Liu Lizhi #FBI

Written with ChatGPT (GPT-4).

Sources

Lifeboat Foundation@LifeboatHQ
1 year ago
US sanctions firm linked to cyber scams behind $200 million in losses https://t.co/xWZvr1uGQu
South China Morning Post@SCMPNews
1 year ago
US sanctions Philippine tech firm over ‘pig butchering’ romance scams https://t.co/S7VW7QPg9b
Global Sanctions@EUSanctions
1 year ago
ℹ️🌏 Today's stories from Global Sanctions 👉FBI publishes alert on cyber scams linked to sanctioned computer infrastructure company 👉3 charged with violations of US Arms Export Control Act 👉US doubles steel and aluminium tariffs from 4th June & deadline for comments

US Treasury Sanctions Philippines’ Funnull Technology, Administrator Liu Lizhi Over $200 Million ‘Pig Butchering’ Crypto Scam

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