The U.S. Treasury’s Office of Foreign Assets Control (OFAC) has enacted sanctions against Funnull Technology, involved in websites purported to conduct pig butchering scams, along with two cryptocurrency wallets tied to Huione Group.

Key Points:

• Scam Impact: Funnull is accused of orchestrating a scam resulting in losses exceeding $200 million.
• Criminal Activities: The firm allegedly sold IP addresses acquired from larger cloud service providers to cybercriminals.
• Money Laundering Concerns: The wallets reportedly received funds amounting to over $4 million from Huione Pay, identified by FinCEN as significant money laundering risks.

OFAC’s announcement states that Funnull and its activities have contributed substantially to the rise in cryptocurrency investment scams, with the majority of reported scam websites linked to them, according to Blockchain security firm Elliptic. Furthermore, recent reports classify Huione as a primary money laundering concern due to its financial operations.

For further insights, consider reviewing the press release and additional details on the matter.