U.S. Sanctions Philippines-Based Firm Linked to ‘Pig Butchering’ Crypto Scams

The U.S. Treasury has imposed sanctions on a Philippines-based company accused of supplying internet infrastructure to a network of virtual currency investment scams, commonly known as “pig butchering.” These schemes typically involve scammers building fake online relationships to defraud victims. The move is part of Washington’s broader crackdown on cyber-enabled financial crimes.