PYN Elite Fund, an international fund, has warned investors of fraudulent practices involving entities impersonating PYN Elite to illegally raise funds. These fraudulent tactics include setting up investment classes under the name PYN Elite VN, using a logo similar to the fund’s to attract investors to open accounts and download the PYN Smart App, among other methods.
Social media accounts, Zalo, Telegram, etc., impersonating PYN Elite often publish posts offering investors attractive rewards, bonuses, unexpected gifts, and a variety of promising investment schemes. These posts typically include a link that investors are urged to click to join a class and a registration form for opening an account.
App impersonating Pyn Elite Fund
Advisory rooms impersonating Pyn Elite Fund
Upon clicking the link, investors are directed to a PYN Elite Fund impersonation website and may be asked to provide sensitive information such as bank account passwords. Alternately, simply clicking the link can install malicious software on the investor’s device, immediately compromising their finances, transaction details, and payment information.
Downloading the fraudulent apps gives malicious actors access to the device’s data, screenshots, messages, and accessibility permissions, allowing them to take control of the phone. Once the malware has established itself as a device “resident,” it can effortlessly steal bank account login credentials and transaction OTP codes, enabling fraudulent money transfers and asset theft.
PYN Elite Fund representatives emphasize that the investment fund is a foreign legal entity with 100% of its investment capital originating from international investors. As the fund has no legal entity within Vietnam, it does not engage in fundraising or capital raising activities from domestic investors. Additionally, PYN Elite Fund stresses that it does not conduct any investment classes, open trading apps, or operate in Vietnam.
PYN Elite Fund strongly advises against accessing links embedded in suspicious SMS or emails, especially those of unknown origin, to prevent falling victim to these scams. The fund also cautions investors against joining classes, opening accounts, or downloading apps impersonating PYN Elite Fund. The fund’s sole official website is https://www.pyn.fi/en/
PYN Elite Fund is a Finnish investment fund that has been operating in Vietnam since 2013. Over a decade, the fund’s assets under management have grown to over 800 million EUR. The fund’s portfolio primarily consists of leading blue-chip stocks, with its top ten investments at the end of Q1 including Sacombank, HDBank, MB, VietinBank, ACV, TPBank, DNSE, SHS, Vĩnh Hoà n, and OCB.
