US Treasury Imposes Sanctions on Filipino Firm and Networks Over Crypto Scams Targeting International Investors

The US Department of the Treasury has imposed sanctions on a Filipino technology company, multiple individuals, and associated entities for allegedly running and facilitating large-scale cryptocurrency scams targeting US and global investors. The crackdown follows revelations of fraudulent investment platforms promising high crypto returns, with schemes mainly employing the ’pig butchering’ tactic to coerce victims into escalating investments. The Treasury and FBI emphasized these networks used digital assets and shell companies to launder illicit funds internationally. The sanctions freeze assets under US jurisdiction and prohibit transactions with all designated parties, aiming to disrupt financial support for such scams. Authorities stated that this move reflects ongoing efforts to combat the increasing use of crypto in cybercrime and to strengthen protections for both US and international traders. These measures are part of a broader global initiative to address concerns about the security of cryptocurrency markets and the risks posed by sophisticated, cross-border fraud operations.