U.S. sanctions cloud provider 'Funnull' as top source of 'pig butchering' scams

Post by williamscales » Fri, May 30, 2025, 4:09 PM UTC

BLKNSLVR wrote: post #139

I kind of wonder why ISPs haven't already started offering value-add security services that have various levels of filtering to provide a cleaner-feed internet experience. From my limited research there seem to be a surprisingly large number of bad actors that own moderate swathes of ip address ranges and even Autonomous Systems (AS) that are known and can therefore be blocked. I use OPNSense, which seems to allow AS…

Post by eugene3306 » Fri, May 30, 2025, 4:15 PM UTC

exFAT wrote: post #141

eugene3306 wrote: post #124

Earlier quoted context omitted.

I use crypto often. I am Russian, I left Russia when Putin started the war. For me, it is quite hard to open a bank account. So I use crypto. I work remotely for a Singaporian company. Now I'm in Vietnam, I can pay for my groceries with crypto using QR code. I can cash USDT crypto with a rate better than paper bills. I have two bank accounts in Kazakhstan. Both card credentials were stolen after I used a popular hote…

>Now I'm in Vietnam, I can pay for my groceries with crypto using QR code. That sounds great. What do you use?

Post by rs186 » Fri, May 30, 2025, 4:24 PM UTC

bryceneal wrote: post #154

rs186 wrote: post #129

Earlier quoted context omitted.

Listened to the whole show, and I am very disappointed that they don't put enough effort into stressing how much cryptocurrency facilitates all these. They talk about cryptocurrency as if it's just a way to transfer money, and it happens that bad people use it for scams. No, it's almost the sole reason pigbutchering works so effectively these days and works as the perfect tool for scammers in obscure corners in the w…

While I agree that cryptocurrency can make the process much easier for scammers, I am wondering what exactly is the proposed solution? Something like 28% of adults in the US own cryptocurrency, and that number increases every year. A few years ago I could see path to some kind of global crackdown on crypto by governments around the world, but it now seems to me that cryptocurrency has reached terminal velocity and it…

Post by mrguyorama » Fri, May 30, 2025, 4:25 PM UTC

johtso wrote: post #103

TeMPOraL wrote: post #86

Earlier quoted context omitted.

The difference is, crypto makes irreversibility a fundamental part of the system, making it impossible for any party to unilaterally reverse a payment without having to first take over the entire chain. With regular fiat money and banks, such reversals are perfectly possible on a technical level. The banks are usually unwilling to do them, and an individual may not be able to force them to in practice, but it's still…

This seems like the correct way to go though.. if you want reversibility, then introduce escrow into the situation, the foundational building block should be irreversible.. as there's no way to make a means of transfer _more_ irreversible if you're inherently giving control to a 3rd party with no choice.

Post by jlarocco » Fri, May 30, 2025, 4:25 PM UTC

SkyBelow wrote: post #102

lesuorac wrote: post #88

Earlier quoted context omitted.

> The banks are usually unwilling to do them, and an individual may not be able to force them to in practice, but it's still possible in a way it's not possible with crypto. Generally they're unwilling to do that because it involves losing money for them. Transfers work in a multi-step process to ensure money isn't created. You tell Bank A to transfer money to person X at Bank B. Bank A tells an intermediary bank C t…

If Bank C is forced to take the loss, it'll be more careful in opening accounts for scammers to withdraw money. If Bank C is in a country that doesn't care to enforce such losses, then Bank B (or A if A is big enough) will think twice about deciding to do business with Bank B. Moving the cost of the scams onto the banks will strongly incentivize them to prevent the scams.