CoinVoice has recently learned that according to Cointelegraph, the Hanoi City Police Department in Vietnam has prevented 300 potential victims from investing in an elaborate cryptocurrency scam that has defrauded 30 billion Vietnamese dong (about 1.17 million US dollars) from about 100 businesses and 400 individuals.

It is reported that the Hanoi police have arrested people associated with the Million Smiles company, which planned an illegal and fraudulent cryptocurrency investment plan targeting Vietnamese citizens, promoting its internal cryptocurrency QFS (Quantum Financial System) and using deceptive advertisements to link it to ancestral treasures and spiritual claims. [Original link]