ChainCatcher news: According to Cointelegraph, the police in Vietnam's Yi'an Province, which borders Laos and the Gulf of Tonkin, have smashed a Laotian fraud gang associated with fraudulent wire transfers. These scammers specialize in pig-killing and cryptocurrency investment scams. One of the scammers visited Laos in September 2023 to join 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 a period of several months, the scammers stole more than VND17.6 billion ($700,000) from the victim. Initially, the scammers would gain the victim's trust by releasing part of the investment funds as profit, but once the victim invested a larger amount, the scammers would lock the account and freeze the funds.