Vietnamese authorities successfully shut down a major cryptocurrency scam by 'Million Smiles,' protecting nearly 300 potential victims from financial harm. The scam, centered around a fake token called QFS, had already defrauded around $1.17 million from hundreds of individuals and businesses. The operation used aggressive marketing tactics with false promises of financial freedom and exaggerated returns. Victims were convinced to invest varying amounts, with promises of access to a revolutionary financial system. The police intervened before a promotional conference could lure more investors. The company created a facade of legitimacy with luxurious offices and false claims of asset backing. Despite warnings, many fell victim due to financial illiteracy. Authorities advised caution, verification of investments, and reporting suspicious activities. Read more AI-generated news on: https://app.chaingpt.org/news