On September 19th, the Investigative Police Agency of Da Nang City announced the arrest of three individuals involved in a cryptocurrency investment scam targeting local residents.
The agency’s office collaborated with the Cybersecurity and High-Tech Crime Prevention Department to successfully dismantle the operation. Phạm Tuấn Thành (23, Giao Thủy, Ninh Bình), Nguyễn Huy Hiệp (27, Gia Lâm, Hanoi), and Phạm Tiến Dũng (21, Nam Tiền Hải, Hưng Yên) were charged and detained for using computer networks, telecommunications, and electronic devices to commit fraud.
 Investigative Police Agency officers serve arrest warrants to the suspects. Photo: CA
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Investigations revealed that the group conspired to create “VIP” social media groups and hired developers to build fake websites mimicking popular cryptocurrency projects.
They lured victims into transferring bank funds to purchase USDT, which was then deposited into fraudulent crypto wallets. The suspects employed deceptive tactics to convince victims to connect their MetaMask wallets and grant hidden spending permissions.
Subsequently, the perpetrators generated worthless tokens (e.g., SAH, KAR) to deceive victims into believing they had successfully invested in legitimate cryptocurrencies.
Through this scheme, the group defrauded two victims, including Ms. T.T.B.N, of nearly 5 billion VND.
Authorities seized multiple electronic devices, a Mercedes GLC 300 vehicle, and other assets linked to the case.
Approximately 7 billion VND in bank accounts has been frozen to facilitate asset recovery and legal proceedings.
Minh Trường
– 5:34 PM, September 19, 2025
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