The U.S. Treasury has just sanctioned Funnull Technology Inc at #Philippines , accusing the company of providing infrastructure for 'pig butchering' cryptocurrency scams that caused Americans to lose over $200 million, with an average loss of over $150,000 per person.
"What is 'pig butchering'?"
This is an increasingly common scam, especially in Asia. Scammers often approach victims online, pretending to establish a romantic relationship (the 'fattening' phase), then lure them to invest in fake crypto projects. In the end, they quietly drain all the money (the 'butchering' phase) and vanish without a trace.
Funnull is accused of being behind hundreds of thousands of scam domains.
According to #FBI , Funnull purchased network infrastructure and IPs from legitimate companies in the U.S., then resold them to cybercriminal groups to set up hundreds of thousands of scam websites. Since the beginning of 2025, the FBI has detected over 332,000 scam domains related to this company.
Additionally, Liu Lizhi – a Chinese citizen identified as the administrator of Funnull, was also sanctioned. He was found to have stored employee lists, job performance, and directly assigned domains to cybercriminals, including fake cryptocurrency investment sites, gambling, and phishing scams.
Funnull's infrastructure was previously involved in the Polyfill scandal.
Previously, Funnull was found to have used the website Polyfill.io to embed malware into legitimate websites, redirecting users to scam sites. The incident was uncovered earlier this year and led to the closure of that site.
The U.S. issues a warning, calling for caution regarding Funnull's infrastructure.
The FBI advises domain providers, web browsers, and safe browsing services to increase alerts regarding domains using Funnull's infrastructure. At the same time, users are reminded that: the HTTPS lock symbol does not guarantee the website is safe – many scam websites also imitate this format.
Cybercrime is spreading and difficult to control.
The United Nations warns that Southeast Asia is becoming a 'highly connected cybercrime ecosystem', where sophisticated scam organizations operate across borders, making prevention nearly impossible.
Contact with the crypto market and Binance users:
The incident shows the extreme risks from unclear investment platforms and projects, especially when exploiting the guise of crypto investment. Binance users and the entire market need to enhance vigilance, only trading on exchanges with clear legal standing and reputation.
Risk warning: Cryptocurrency investment always carries high risks, especially from projects, websites, or relationships that lack transparency. Users should thoroughly check the origins before transferring money or investing to avoid becoming victims of sophisticated tricks like 'pig butchering'. #anhbacong