The US Treasury Department has imposed sanctions on Funnull Technology Inc. and its administrator Liu Lizhi for enabling cryptocurrency investment fraud scams that caused over $200 million in losses. The company facilitated cybercriminal activities by providing infrastructure such as IP addresses, domain generation tools, and web design templates, supporting large-scale CIF scams. #FunnullTechnology #LiuLizhi #CIFscams #cybercriminalinfrastructure
Keypoints
- The US Treasury sanctioned Funnull Technology Inc. and Liu Lizhi for facilitating cryptocurrency scam infrastructure.
- Funnull purchased bulk cloud IP addresses and sold them to cybercriminals to host scam websites.
- The company used domain generation algorithms to quickly create and change scam websites, evading takedown efforts.
- FBI linked thousands of domains to Funnull’s infrastructure, indicating widespread misuse.
- The sanctions highlight vulnerabilities in cloud service providers’ KYC enforcement supporting cyber fraud.
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