(C) U.S. State Dept
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Targeting a Major Backer of Virtual Currency Investment Scams [1]
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Date: 2025-05
The United States is imposing sanctions on Funnull Technology Inc., a Philippines-based company that provides the critical computer infrastructure for virtual currency investment scams, and its administrator Liu Lizhi, a Chinese national. Fraudulent virtual currency investment scams cause serious financial harm to the American people. Today’s targets are directly connected to over $200 million in losses reported by U.S. victims, with an average cost of over $150,000 per individual.
The United States will go after those who misuse virtual currencies and internet services to perpetrate fraud and other crimes. We will continue to pursue cybercriminals who abuse the U.S. financial sector.
The Department of the Treasury’s sanctions actions were taken pursuant to Executive Order (E.O.) 13694, as amended by E.O. 14114. For more information, see Treasury’s press release .
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[1] Url:
https://www.state.gov/targeting-a-major-backer-of-virtual-currency-investment-scams/
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