The US Treasury has imposed sanctions on a Philippines-based technology firm and its alleged administrator for providing services to numerous crypto scam websites. Funnull Technology, linked to most reported crypto scam websites, has led to victims losing over $200 million, according to the Treasury’s Office of Foreign Assets Control (OFAC). Funnull purchases IP addresses in bulk and sells them to scammers, enabling them to create clones of legitimate investment platforms to deceive victims and steal their crypto. The accused administrator, Liu Lizhi, a Chinese national managing the firm’s employees, has been added to OFAC’s Specially Designated Nationals and Blocked Persons list. Additionally, two wallet addresses associated with Funnull have been sanctioned. The sanctions prohibit any interactions with properties and business interests where Lizhi and Funnull have a stake of over 50%, with violators facing penalties. Read more AI-generated news on: https://app.chaingpt.org/news