US sanctions company linked to 'pig butchering' crypto scams
Hey, so get this: the U.S. government is cracking down on a company in the Philippines. They say this company, called Funnull Technology Inc., was basically helping out all those nasty âpig butcheringâ scams. You know, the ones where people get tricked into putting money into fake crypto stuff? Yeah, those are a huge problem.
The folks at the Treasury Department actually put out a statement about this. They said Funnull was buying up internet addresses in bulk and then selling them to these cybercriminals. Talk about shady, right? They also sanctioned a guy named Liu Lizhi who they think is running things over at Funnull. Idk, Reuters tried to find contact info for him and for Funnull, but no luck.
These crypto investment scams are serious business, like a billion-dollar problem fueled by organized crime and even human trafficking. It's messed up, tbh. These scammers use fake websites to rip people off. And get this, some cybersecurity researchers looked into Funnull and found they were linked to tons of these fake scam websites, plus a bunch of others for gambling or maybe even money laundering. Whew!
These pig butchering scams started in China but now they're targeting people all over the world. Another company that looks at blockchain stuff said these scams are making more money than ever. They think it's because scammers are using AI now to make their pitches sound better and talk to more people at the same time. Crazy, huh?
