The US Treasury Department included Funnull Technology, which is associated with hundreds of millions of crypto frauds, to the sanction list.

The US Treasury’s Ministry of Treasury’s control of foreign assets (OFAC), Funnull Technology -based technology company, and the Chinese manager of the company Liu Lizhi, accusing the sanction list by helping crypto fraud.

According to Glassnode data, Funnull is connected to a significant portion of the crypto fraud reported to the FBI and the loss has exceeded $ 200 million.

🧠 Accusation: Code Manipulation and Fake Websites

According to OAC, Funnull:

Bulut IP addresses from cloud service providers and sell them to scammers.

Frauds use these IPs to host copies of legitimate investment platforms.

In an incident in 2024, he purchased an open -source code store used by developers and placed harmful codes that direct legitimate websites to fraud sites.

“These services make it easier for cyber criminals to imitate reliable brands.”

• Ofac Description

🛑 Scope of sanctions

Liu Lizhi, Funnull Technology and Manager, was included in the SDN (specially determined nationals) list.

All the assets in the US were frozen.

US citizens or companies will no longer establish any financial relationship with this person and institution.

Those who violate the rules may face legal and criminal sanctions.

💰 Crypto wallets are also sanctioned

Ofc, Funnull’a two crypto wallet addresses found to be included in the list of sanctions.

“These wallets were probably used to receive payments made by cyber criminals.”

🌐 Connection to Triad Nexus Network

According to Chainalsis, Funnull is located at the center of a large -scale fraud network called “Triad Nexus ..

There are more than 200,000 fake investment sites and fake trade applications on the network.

🧭 What does it mean?

These sanctions:

That the fight against international crypto crimes continues with determination

Web infrastructure and how software safety can be abused in fraud

And it shows that the US can also target companies that do not directly fraud but provide technical infrastructure.