TechFlow news, on January 7, according to vnexpress, Vietnamese police recently arrested four suspects in Dong Nai province who defrauded over 200 victims through a cryptocurrency-related scheme, involving approximately 4 billion Vietnamese dong (US$157,300).
The suspects, led by Tran Minh Quang, allegedly created a fake cryptocurrency mining website named BitMiner, registered under a Singaporean domain. The group posed as a Dubai-based company, selling counterfeit cryptocurrency mining software packages and educational materials to appear legitimate. They also recruited multiple accomplices to spread false promises about their investment opportunities. Instead of using the funds for legitimate cryptocurrency mining, the scammers transferred all investments into wallets controlled by Quang and his associates.
This arrest is part of a broader crackdown in Vietnam, where authorities have recently uncovered other digital asset fraud networks. One such network swindled around $1.17 million from more than 400 individuals and 100 businesses by promoting the Quantum Financial System (QFS) coin.
