U.S. Treasury Targets Philippine Firm in $200 Million Crypto Scam Network

The U.S. Treasury Department has announced sanctions against Funnull, a Philippine firm linked to a major cryptocurrency scam operation that reportedly fleeced victims of over $200 million. The sanctions were issued after a detailed investigation by the Office of Foreign Assets Control (OFAC). Funnull allegedly procured IP addresses from international cloud providers and resold them to cybercriminals, allowing them to operate fraudulent platforms and host malicious online content.