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Vietnam's provincial police have arrested five people linked to a complex network of cryptocurrency scams led by offshore threat actors.
On October 4, police in Nghe An, a Vietnamese province bordering Laos and the Gulf of Tonkin, dismantled a Laos-based fraudulent network involving fraudulent bank transfers. The ring of scammers was led by offshore entities that specialized in pig slaughter and cryptocurrency investment fraud.
Nghe Anh police have detained two Vietnamese suspects after an investigation confirmed a direct link to a cryptocurrency scam.
Members of the Vietnamese Cryptocurrency Scam Network[/CENTER]
According to a police report, one of the scammers visited Laos in September 2023 to join a fraudulent group. In February, they created Facebook accounts to coerce victims into romance and investment scams.
Organization of fraudulent schemes for investing in cryptocurrency
A scammer who introduced herself as a woman has won the trust of a man from Ho Chi Minh City. The victim was eventually tricked into investing huge sums of money in the company "Biconomynft", which promised exorbitant profits. In a few months, the scammer stole more than 17.6 billion Vietnamese dong (700 thousand dollars) from the victim.
Related: CFTC Partners to Warn of Crypto.
Pig Slaughter Scam The accomplice has also been charged with a similar crime. After a broader investigation, police arrested three more people of the same age category associated with the criminal gang.
Initially, the scammers gain the trust of their victims by releasing some of the funds they have invested as profits. After victims have deposited a significant amount, scammers block accounts and block withdrawals.
Cryptocurrency scams beyond.
borders Recently, authorities in South Korea and Vietnam teamed up to expose another fraudulent group based in Vietnam that stole more than 10 billion won ($7.5 million).
According to a local report, the criminal gang deceived 230 victims by contacting them through various means, such as wedding invitations, funeral announcements, package delivery notifications, and impersonating family members in text messages.
After analyzing 300,000 suspicious transactions, police arrested 86 people in Korea and overseas in connection with a cryptocurrency phishing operation.
Source
On October 4, police in Nghe An, a Vietnamese province bordering Laos and the Gulf of Tonkin, dismantled a Laos-based fraudulent network involving fraudulent bank transfers. The ring of scammers was led by offshore entities that specialized in pig slaughter and cryptocurrency investment fraud.
Nghe Anh police have detained two Vietnamese suspects after an investigation confirmed a direct link to a cryptocurrency scam.
Members of the Vietnamese Cryptocurrency Scam Network[/CENTER]
According to a police report, one of the scammers visited Laos in September 2023 to join a fraudulent group. In February, they created Facebook accounts to coerce victims into romance and investment scams.
Organization of fraudulent schemes for investing in cryptocurrency
A scammer who introduced herself as a woman has won the trust of a man from Ho Chi Minh City. The victim was eventually tricked into investing huge sums of money in the company "Biconomynft", which promised exorbitant profits. In a few months, the scammer stole more than 17.6 billion Vietnamese dong (700 thousand dollars) from the victim.
Related: CFTC Partners to Warn of Crypto.
Pig Slaughter Scam The accomplice has also been charged with a similar crime. After a broader investigation, police arrested three more people of the same age category associated with the criminal gang.
Initially, the scammers gain the trust of their victims by releasing some of the funds they have invested as profits. After victims have deposited a significant amount, scammers block accounts and block withdrawals.
Cryptocurrency scams beyond.
borders Recently, authorities in South Korea and Vietnam teamed up to expose another fraudulent group based in Vietnam that stole more than 10 billion won ($7.5 million).
According to a local report, the criminal gang deceived 230 victims by contacting them through various means, such as wedding invitations, funeral announcements, package delivery notifications, and impersonating family members in text messages.
After analyzing 300,000 suspicious transactions, police arrested 86 people in Korea and overseas in connection with a cryptocurrency phishing operation.
Source
