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On May 29, 2025, the U.S. Treasury Department announced that the Office of Foreign Assets Control (OFAC) had sanctioned Funnull Technology Inc., a Philippines-based company, and Liu Lizhi, whom Treasury identified as Funnull’s administrator. Treasury said the company supplied infrastructure used by cybercriminals to run scam websites and linked sites to more than $200 million in reported losses among U.S. victims. The designation blocks certain property and generally bars U.S. persons from conducting transactions with the designated parties unless an exemption or OFAC authorization applies.
What OFAC announced
Treasury announced the action on May 29, 2025. OFAC’s action record lists Funnull Technology Inc. at an address in Taguig City, National Capital Region, Philippines, and assigns the company the CYBER3 program tag. The record also includes company aliases, web domains, digital-currency addresses and a Philippine registration number. It identifies Liu Lizhi as the company’s administrator. Treasury’s announcement and OFAC’s action record document the designation.
What Treasury said Funnull did
Treasury described Funnull as an infrastructure provider for cybercriminals. According to the department, the company bought IP addresses in bulk from major cloud providers and resold them for hosting scam platforms and other malicious content. Treasury also said Funnull used domain-generation algorithms and supplied website templates, tools that it said helped operators imitate trusted brands and shift scam sites when providers intervened.
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1Repair Windows errors before they cause bigger problems2Scan for outdated or missing drivers - takes under a minute3Clear out junk files and repair common Windows errorsTreasury said Funnull directly facilitated several virtual-currency investment schemes. It described the schemes as “pig butchering” scams: scammers cultivate a relationship or trust with a target, direct that person to a fraudulent investment site displaying fabricated returns, then take the money when the victim pays in and eventually cut off contact. The description and claims about Funnull’s role are Treasury’s account, not findings in a court judgment.
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Why Treasury said it imposed sanctions
Treasury reported that U.S. victims had reported more than $200 million in losses connected to sites linked to Funnull. It also said average reported losses exceeded $150,000 per individual and that the majority of virtual-currency investment scam websites reported to the FBI were linked to Funnull. The announcement gives no count or percentage for “the majority.” Treasury cautioned that reported losses likely understate the harm because many victims do not report scams.
OFAC designated Funnull under Executive Order 13694, as amended by Executive Order 14144, on the stated basis that the company materially assisted or supported certain cyber-enabled activities involving misappropriation or financial gain. Treasury said Liu was designated for acting for or on behalf of Funnull. A sanctions designation is a blocking measure; it is not, by itself, a criminal conviction or a court ruling that establishes liability.
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What the blocking rules mean
Treasury said property and interests in property belonging to designated persons are blocked when they are in the United States or in the possession or control of U.S. persons, and must be reported to OFAC. Entities owned, directly or indirectly, 50 percent or more by one or more blocked persons are also blocked. In general, U.S. persons—and transactions within or transiting the United States—may not deal with blocked persons unless an OFAC general or specific license authorizes the activity or an exemption applies.
These are general effects summarized from Treasury’s announcement, not individualized compliance advice. A sanctions designation should not be confused with a criminal prosecution: blocking property and restricting transactions are distinct from a court imposing criminal penalties.
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How to read later enforcement news
A September 9, 2026 report from the U.S. Department of Justice described broader Scam Center Strike Force enforcement, including approximately $52 million in scam-related cryptocurrency restrained in one day and approximately $938 million cumulatively. Those figures concern broader enforcement against scam activity; they are not a later Funnull-specific action or an update to the May 2025 designation. The Justice Department report provides that separate context.
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