On September 19th, the Da Nang City Police Investigation Agency, in collaboration with the Cyber Security and High-Tech Crime Prevention Department, successfully dismantled a major online fraud scheme.
Three suspects arrested for fraud and impersonation in cryptocurrency investment schemes
The three suspects, Pham Tuan Thanh (born 2002, from Giao Thuy, Ninh Binh), Nguyen Huy Hiep (born 1998, from Gia Lam, Hanoi), and Pham Tien Dung (born 1999, from Nam Tien Hai, Hung Yen), were charged and detained for “using computer networks, telecommunications networks, and electronic means to commit property appropriation.”
Investigations revealed that the group conspired to create a fraudulent scheme by establishing “VIP” groups on social media and hiring developers to create fake websites mimicking popular cryptocurrency projects. They lured victims into transferring money from their bank accounts to purchase USDT and deposit it into cryptocurrency wallets. The suspects then employed deceptive tactics to convince victims to connect their MetaMask wallets and grant hidden spending permissions.
Subsequently, they generated worthless tokens (such as SAH, KAR) to deceive victims into believing they had successfully invested.
Through this scheme, the group defrauded Ms. T.T.B.N and another victim of nearly 5 billion VND.
The Police Investigation Agency seized multiple electronic devices, a Mercedes GLC 300 car, and other assets, while also freezing approximately 7 billion VND in bank accounts to facilitate asset recovery and legal proceedings.
Unveiling the Social Media Crypto Scam: Authorities Arrest Fraudulent Network
After luring victims into using funds from their bank accounts to purchase USDT and deposit it into virtual wallets, this group created “junk” tokens to deceive victims into believing they had successfully invested in cryptocurrency.
Unveiling the WorldMall.app Crypto Pyramid Scheme: Expert Exposes Traceability Journey and Warns of ‘Super Profit’ Traps
ChainTracer, a flagship program of VBA, recently enabled the Criminal Police Department to successfully dismantle the “WorldMall.app” (WM coin) cryptocurrency investment scam. This fraudulent scheme had defrauded thousands of Vietnamese investors out of tens of billions of dong.
Avoid the “Paying for a Room but No Stay” Scam When Booking Hotels in Vung Tau for the September 2nd Holiday
As we approach the National Day holiday on September 2nd, a spate of hotel booking scams in Vung Tau has resurfaced, leaving many travelers out of pocket and without accommodation.
Unveiling the Masterminds: Laos Cai Police Bust a Massive Crypto Scam, Arresting 25 Perpetrators
The perpetrators confessed to creating apps and websites advertising a non-existent cryptocurrency and enticing people to invest in it.
Uncovering a Massive Crypto Scam Ring: A Multi-Province Heist
On August 28th, the Lao Cai Provincial Police, in collaboration with functional units of the Ministry of Public Security, announced the successful bust of a nationwide financial fraud ring involving a cryptocurrency pyramid scheme. In the initial stages of the operation, authorities detained 25 individuals and seized assets worth over 400 billion VND.
