The US Department of the Treasury’s Office of Foreign Assets Management (OFAC) has imposed sanctions on Funnull Technology. This imposed two cryptocurrency wallets that were said to be linked to the website’s tech providers allegedly involved in the so-called pig slaughter fraud, and the Huione group.
Philippines-based Funnull directly promoted fraud, including cryptocurrency, which results in more than $200 million in losses for victims, in a press release Thursday. Additionally, the company is said to have acquired several IP addresses from mainstream cloud service providers to sell to cybercriminals. Sanctions also cover Funnull’s administrator, Liu Lizhi.
The majority of cryptocurrency investment scam websites reported to the FBI are linked to Funnull,” blockchain security company Elliptic said in a blog post.
Elliptic said the wallets of Ethereum and Tron, which are part of the Huione Group, received funds directly from Huione Pay. Huione was named “Primary Money Laundering Concerns” by Fincen earlier this month.
According to Elliptic, the two addresses received more than $4 million in total.
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