According to ChainCatcher, the U.S. Department of the Treasury's Office of Foreign Assets Control has stated that Funnull Technology is linked to most cryptocurrency scam websites, with victims losing over $200 million. Funnull purchases IP addresses in bulk from cloud service providers and sells them to scammers, helping them host cloned versions of legitimate investment platforms to deceive victims and steal cryptocurrency. In 2024, Funnull purchased and modified codebases to redirect legitimate website visitors to scam and gambling sites.