The U.S. Treasury sanctioned Funnull Technology and Liu Lizhi for facilitating romance scams leading to significant losses in cryptocurrency fraud.
Funnull Technology Inc. aided in cyber scams by providing infrastructure for fake platforms, resulting in over $200 million in losses for U.S. victims.
Romance scams involve scammers building fake romantic relationships to exploit victims for financial gain by manipulating them into sending money or sensitive information.
The FBI issued a FLASH alert highlighting indicators of compromise associated with Funnull's malicious cyber activities, including patterns of IP address activity and domain migrations.