US Sanctions FUNNULL for Crypto “Pig Butchering” Scams Causing $200M Loss
US targets FUNNULL for enabling crypto “pig butchering” scams, linked to $200M losses. Learn how cybercriminals exploit virtual currency fraud.
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US Sanctions FUNNULL for Crypto “Pig Butchering” Scams Causing $200M Loss
The US government has taken decisive action against FUNNULL, a tech company accused of facilitating “pig butchering” crypto scams responsible for over $200 million in losses to American victims. If you’re wondering how these crypto scams operate or why the US Treasury imposed sanctions, this article explains everything you need to know about FUNNULL’s role in enabling these elaborate fraud schemes and the impact on investors. Image : Google “Pig butchering” scams are a growing threat in the crypto world, where cybercriminals use fake online personas to establish romantic relationships with victims, tricking them into investing large sums into bogus virtual currency projects. These scams often lead to devastating financial losses, with an average of $150,000 lost per victim — though actual figures may be much higher, as many incidents go unreported. The US Treasury’s Office of Foreign Assets Control (OFAC) recently sanctioned FUNNULL, a company operating from the Philip…
