Deep Tide TechFlow News, on December 30, according to Cointelegraph, Vietnamese police successfully dismantled a cryptocurrency scam worth $1.17 million, protecting 300 potential victims. The scam was orchestrated by a company called 'Million Smiles', involving the fraudulent token QFS (Quantum Financial System), which defrauded 3 trillion Vietnamese Dong (1.17 million USD) from around 100 businesses and 400 individuals.

The company falsely claimed that QFS was related to ancestral treasures and spiritual beliefs, promised unrealistic high returns, and asserted that holding QFS could secure financing without collateral or interest. Police raided the headquarters of 'Million Smiles', seized relevant documents and equipment, and discovered that the QFS token was not legitimate.