Vietnam police prevent a major crypto scam, freezing assets and arresting suspects. 300 victims targeted by fake QFS coin.
In Hanoi, Vietnam, the police have successfully prevented a large crypto scam. This scam targeted around 300 potential victims. The scam had already cost 30 billion Vietnamese dong ($1.17 million) to the defrauded. The 100 businesses and 400 individuals were the victims. Several fraudulent crypto trading platforms have already been dismantled by the Hanoi City Police. The criminals were arrested, and assets worth billions of Vietnamese dong was frozen.
Repeated warnings about these scams have still not stopped many people from being taken for them. There are those tempted by the promise of quick profits. Trieu Nu Cuoi Company was exposed by the Economic Security Department of the Hanoi City Police for its scam. As such, this company was suspected to have engaged in fake crypto transactions to steal their assets. When the police realized this, they quickly intervened to put it to a stop and look into it.
Vietnam Unveils Fake Crypto Scam Targeting 300 Customers
Trieu Nu Cuoi Company is planning to hold a big event on December 24, 2024. At Bao Son Paradise, the company planned to host a conference of 300 customers. The police coordinated with other units to stop the scam. A company CEO and seven others were summoned for questioning. The Islamic State also searched the company’s headquarters for evidence. As part of the search, the police confiscated many documents, computers, and other items.
The company had been streaming QFS as a fake cryptocurrency, according to the investigation. QFS, the company insisted, was backed by valuable assets. Buying QFS coins would be helping people start businesses without loan, they said. They also told them that their coins are going to be worth a lot and that the buyers would become rich afterward. However, this was a false story to scam them.
Vietnamese authorities also made a big arrest in a similar case in October. Five people arrested for connection with major Vietnam cryptocurrency scam. Moreover, it was found that the fraud network had international links. The activities were found to have taken place in the Golden Triangle Special Economic Zone in Laos.
Moreover, they are trying to gather evidence for further investigation. They are saying any victims should call for help. Authorities also ask people to be careful when they invest in crypto. They advise checking out and verifying facts before giving money. Sometimes, scammers use false promises to get people to lose their money. However, this means that staying alert and avoiding crypto scams is very important.
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