According to BlockBeats, on October 4, Cointelegraph reported that the police in Vietnam's Yi'an Province, which borders Laos and the Gulf of Tonkin, smashed a Laotian fraud gang related to fraudulent wire transfers. These scammers specialize in pig-killing and cryptocurrency investment scams. One of the scammers visited Laos in September 2023 and joined the scam gang. In February of this year, they began to create Facebook accounts to lure victims into emotional deception and investment scams.

One of the scammers posed as a woman and gained the trust of a man in Ho Chi Minh City. The victim was eventually tricked into investing in "Biconomynft," a fake app that promised high returns. Over the course of several months, the scammers stole more than VND17.6 billion ($700,000) from the victims. Initially, the scammers would win the victim's trust by releasing part of the investment funds as profit, and once the victim invested more money, the scammers would lock the account and freeze the funds.