PANews reported on October 4 that according to Cointelegraph, the police in Nghe An Province, Vietnam, smashed a Laotian fraud gang related to fraudulent wire transfers. These scammers specialize in pig-killing and cryptocurrency investment scams. One of the scammers pretended to be a woman and gained the trust of a man in Ho Chi Minh City. The victim was eventually deceived into investing in "Biconomynft", a fake application that promised high returns. Over the past few months, the scammers stole more than 17.6 billion Vietnamese dong (US$700,000) from the victims. It is reported that the scammers initially won the trust of the victims by releasing part of the investment funds as profits. Once the victims invested more amounts, the scammers would lock the accounts and freeze the funds.