The U.S. Treasury Department has sanctioned Funnull Technology, a Philippines-based company that has facilitated hundreds of thousands of cyber scam websites linked to over $200 million in losses for Americans. Funnull sold IP addresses to cybercriminals for virtual currency investment scams, and the Treasury also sanctioned Liu Lizhi, the company's administrator. As a result of these sanctions, U.S. transactions with Funnull and Lizhi are prohibited, and their assets will be frozen.

Silent Push CEO Ken Bagnall discusses the ongoing challenges of combating cybercrime, highlighting the vast network of financial scams linked to the Philippines-based company Funnull. He emphasizes the complexities of disrupting these operations, as crime organizations adapt to law enforcement tactics, and notes the need for a collaborative international effort to address the systemic issues posed by cybercrime.