According to the treasury department, Funnull’s operations are linked to the majority of virtual currency investment scam websites reported to the FBI. The company allegedly facilitated pig butchering and other schemes, resulting in over $200 million in financial losses for Americans.

Pig butchering scams involve luring individuals into investing in fraudulent cryptocurrency trading platforms through online relationships. Victims are encouraged to invest increasing amounts, believing the platform to be profitable, only to lose their money when thay attempt to withdraw it. Scammers frequently enough demand additional “taxes” on crypto “earnings,” which victims never recover. Many people have lost significant sums through these scams.

Research from Silent Push in October 2024 revealed that numerous domains hosted via Funnull promoted gambling sites bearing the logo of the Suncity Group, an entity implicated in laundering millions of dollars for the North Korean hacking group Lazarus. Funnull operated as a criminal content delivery network (CDN), routing traffic through auto-generated domain names and U.S.-based cloud providers before redirecting to malicious websites. The FBI has released a technical writeup (PDF) detailing the infrastructure used to manage Funnull domains between October 2023 and April 2025.