The US treasure sanctioned the Filipino technology company and its alleged administrator, accusing her of providing services to thousands of cryptographic websites.
Funull Technology is associated with most websites with cryptographic frauds reported to the FBI, and the losses of victims exceeded $ 200 million, the Treasury Office of Foreign Asset Control (OFAC) he said May 29.
Funull buys IP addresses from cloud service providers and sells them to fraudsters, enabling them to host and handle the clones of legal investment platforms, cheating victims and theft of cryptocurrencies, according to OFAC.
In one case, in 2024, OFAC said that Funnell bought a code repository used by internet creators and changed the code to redirect visitors to legal websites for fraud and online gambling sites.
“These services not only facilitate cybercriminals to impersonate trusted brands when creating fraud websites, but also allow them to quickly change to various domain names and IP addresses when legal suppliers are trying to remove websites,” said ofac.
Cryptocurrency portfolios, Funnull administrator sanctioned
The accused administrator of Funull, Liu Lizhi – a Chinese citizen who managed the company’s employees – he was also in addition on a specially designated List ofac and blocked people (SDN) as part of the sanctions.
Generally, existence On the SDN list means that all assets that a person have in the USA are frozen, and people in the US are illegal to conduct any financial transactions or have contacts with them; The violaters can face civil and criminal penalties.
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Ofac also sanctioned two portfolio addresses that said they were related to Funull, which the blockchain analytics chain becomes he said In the report of May 29, probably “was used to receive payments from cyber criminals.”
“In addition, addresses show indirect exposure to various types of fraud and suppliers of domain management infrastructure,” said chainalysis.
Chainalysis claimed that Funnell is a central player in the network known as the Nexus triad, which includes over 200,000 unique host names related to investment fraud and phony commercial applications.
As a result of the sanctions of all in the USA, interaction with all property and business interests in which Lizhi and Funull have over 50% of shares have now been forbid.
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