According to Deep Tide TechFlow news on January 7, reported by vnexpress, Vietnamese police recently arrested four suspects in Dong Nai province, who defrauded over 200 victims through cryptocurrency-related schemes, with the amount involved reaching 4 billion Vietnamese dong ($157,300).
Allegedly, the suspects led by Tran Minh Quang created a fake cryptocurrency mining website called BitMiner, registered under a Singapore domain. The gang disguised themselves as a Dubai company, selling fake cryptocurrency mining software packages and educational materials to appear legitimate. They also recruited multiple accomplices to spread false promises about their investment opportunities. The scammers did not use the funds for legitimate cryptocurrency mining but instead transferred all investments to wallets controlled by Quang and his accomplices.
This arrest is part of a broader crackdown by Vietnam's authorities, who recently uncovered other digital asset fraud networks. One of the networks deceived over 400 individuals and 100 businesses out of approximately $1.17 million by promoting the Quantum Financial System (QFS) coin.