$200M Digital Asset Fraud: Funnull Faces OFAC Penalties Amid Links to Huione Pay, Triad Nexus Unearthed

Funnull Technology Inc., a Philippine-based tech firm, and its administrator, Liu Lizhi, have been sanctioned by the Office of Foreign Assets Control (OFAC) of the US Department of Treasury for running a $200M "pig butchering" scam. The scam involved stealing from American investors, leading to the restriction of access to financial systems for two of Funnull's cryptocurrency addresses.

The FBI's Internet Crime Complaint Center (IC3) has issued a public advisory regarding the scam. The firm has been linked to a network dubbed "Triad Nexus", associated with numerous investment scams and suspect gambling networks. Blockchain intelligence revealed ties to Huione Pay, a known money laundering concern. Two cryptocurrency addresses linked to Funnull reportedly received more than $4 million in total.