U.S. Sanctions Philippines Firm Tied to $200M Crypto Scam

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When Crypto Dreams Turn into Nightmares: The $200M Scam Saga! 😂💸

In a world where the line between reality and deception blurs like a poorly coded website, the U.S. Treasury Department has decided to play the role of the vigilant guardian. They have set their sights on a rather dubious enterprise in the Philippines, known as Funnull Technology, helmed by the illustrious Liu Lizhi. This company, it seems, has been dabbling in the dark arts of cryptocurrency scams, raking in a staggering $200 million from unsuspecting victims. Who knew that the path to riches could be paved with such audacity?

Funnull, in its infinite wisdom, has taken to acquiring a plethora of IP addresses from the tech giants, only to sell them to the nefarious underbelly of the internet. These addresses serve as the foundation for a multitude of fake websites, masquerading as legitimate investment platforms. The U.S. Treasury, in its infinite wisdom, has revealed that this operation is so cleverly orchestrated that it lures in the hopeful investors, only to have their hard-earned cryptocurrency whisked away into the abyss of fraud.

But wait, there’s more! In a plot twist worthy of a bad soap opera, Funnull decided to spice things up in 2024 by tweaking the very coding tools that web developers hold dear. Imagine, if you will, a scenario where a simple visit to a legitimate website could lead you down a rabbit hole of fake investment schemes or online gambling dens. It’s like a digital game of hide and seek, where the seekers are the authorities, and the hiders are the scammers, constantly shifting their locations to evade capture.

As if this tale couldn’t get any juicier, Liu Lizhi has found himself on the infamous Specially Designated Nationals and Blocked Persons (SDN) list. Yes, you heard that right! His assets in the U.S. are now frozen, and any American who dares to engage in business with him or Funnull might as well be signing up for a one-way ticket to trouble. It’s a classic case of “don’t call us, we’ll call you” – except in this scenario, the call never comes.

In a final flourish, the Treasury has also targeted two cryptocurrency wallets linked to Funnull, which, according to the blockchain sleuths at Chainalysis, are likely the treasure chests for the scammers’ ill-gotten gains. Funnull is reportedly a key player in a sprawling network dubbed “Triad Nexus,” which boasts over 200,000 fake website names. It’s like a digital carnival of deception, where the rides are rigged, and the prizes are nothing but empty promises.

This crackdown is part of a grander scheme to dismantle the intricate web of cybercriminals, making it increasingly difficult for them to operate. After all, who wouldn’t want to protect the innocent from losing their hard-earned money to such elaborate fraud? It’s a noble cause, albeit one that feels like trying to catch smoke with your bare hands.

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2025-05-30 15:33