Published on oktober 6, 2024, 12:26 am
Image source: Fox News
```json [ { "TLDR": "Vietnamese authorities apprehend five individuals involved in a sophisticated crypto scam network, leading to the capture of suspects operating fraudulent wire transfers from Laos. Victims were lured through deceptive tactics on Facebook profiles, resulting in losses of millions of Vietnamese dong. Collaboration between countries has helped crack down on similar scams targeting hundreds of victims." } ] ```
Vietnamese authorities have made a significant breakthrough in the fight against crypto scams by apprehending five individuals tied to a sophisticated network designed to defraud unsuspecting victims. This operation, spearheaded by off-shore perpetrators with skills in both pig-butchering and cryptocurrency investment scams, was recently exposed and dismantled.
The arrests took place in Nghe An province, located on the border of Laos and the Gulf of Tonkin, where local police busted a fraudulent wire transfer scheme operating from Laos. Investigations led to the capture of two Vietnamese suspects directly involved in carrying out crypto scams.
Reports indicate that one of the culprits journeyed to Laos last September to collaborate with the group of fraudsters. Subsequently, in February, they initiated their deceptive tactics by setting up Facebook profiles to lure victims into romance and investment swindles. One impostor, posing as a woman, earned the trust of an individual from Ho Chi Minh City who fell victim to investing in a counterfeit app called “Biconomynft,” promising lucrative returns. The scammer managed to siphon off more than 17.6 billion Vietnamese dong (equivalent to $700,000) from this single victim over several months.
Aided by accomplices engaging in similar illegal activities, three additional suspects were later arrested following an extended probe into the criminal ring’s operations. The deceitful strategy employed involved gaining victims’ trust initially by providing small portions of their invested funds as profits. However, once larger sums were invested, accounts were locked down, and funds frozen.
This recent crackdown adds to previous efforts after South Korean and Vietnamese authorities collaborated to thwart another crypto scam originating from Vietnam that had unlawfully obtained over 10 billion won ($7.5 million). The organization targeted 230 victims through varied means like fake wedding invitations, funeral notices, parcel delivery alerts, and impersonation on text messages.
With law enforcement scrutinizing 300,000 suspicious transactions leading to the arrest of 86 individuals domestically and abroad related to these illicit actions. Such joint efforts underscore ongoing initiatives globally aimed at curbing crypto-related fraudulent activities that prey on unsuspecting individuals seeking investment opportunities.
Original article posted by Fox News
