according<\/a> to local reporting.<\/p>\nThe Dong Nai Provincial Police led the months-long investigation with support from the Ministry of Public Security and other regional forces.<\/p>\n
After nearly 200 days of surveillance and evidence collection, officers arrested the group\u2019s ringleader Nguyen Quoc Hung and four accomplices during coordinated raids across multiple provinces.<\/p>\n
The suspects are accused of creating a bogus cryptocurrency platform using software built for 20,000 Tether (USDT) (520 million VND).\u00a0<\/p>\n
Investors were promised large profits and rewards for recruiting others into the scheme, which operated like a multi-level marketing system. Participants had to pay a 1 USDT \u201cplatform fee\u201d via the SafePal wallet system to join.<\/p>\n
Authorities say the scam attracted over 138,000 registered users, who collectively deposited more than 394 million USDT (~10 trillion VND).<\/p>\n
<\/p>\n
Crypto scams and money laundering\u00a0<\/h2>\n
Roughly 55% of the funds were siphoned off by the group for personal use, while the rest was spent on marketing, events, and commissions for regional promoters.<\/p>\n
The group allegedly laundered funds through real estate purchases across northern Vietnam, using wallets under multiple identities to obscure transactions. Police have seized assets and digital evidence for further investigation.<\/p>\n
The operation\u2019s success coincides with the 80th anniversary of the People\u2019s Public Security Force and is being celebrated as a major win in Vietnam\u2019s fight against cybercrime. Investigations are ongoing as police continue to identify additional accomplices and trace stolen funds.<\/p>\n
<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"
Vietnamese authorities have arrested key figures behind a nationwide cryptocurrency scam that defrauded tens of thousands of investors out of nearly 10 trillion VND (approximately $400 million).\u00a0 The fraud ring…<\/p>\n","protected":false},"author":1,"featured_media":1229,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-1228","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency"],"_links":{"self":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/1228","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/comments?post=1228"}],"version-history":[{"count":1,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/1228\/revisions"}],"predecessor-version":[{"id":1230,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/1228\/revisions\/1230"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media\/1229"}],"wp:attachment":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media?parent=1228"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/categories?post=1228"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/tags?post=1228"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}