The United States sanctions a Philippine technology company suspected of assisting in Crypto Assets fraud.

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According to Mars Finance, on May 29, the U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) stated that Funnull Technology is associated with most of the cryptocurrency scam websites reported to the FBI, with victims losing over $200 million. According to OFAC, Funnull bulk purchased IP addresses from cloud service providers and sold them to scammers, allowing them to host and operate clone versions of legitimate investment platforms, deceiving victims and stealing their crypto assets. OFAC stated that in a 2024 case, Funnell purchased the codebase used by web developers and modified the code to redirect visitors of legitimate websites to scam and online gambling websites.

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