The Hanoi Metropolitan Police Department in Vietnam has prevented 300 potential victims from investing in an elaborate cryptocurrency scam that has defrauded 30 billion VND ($1.17 million) from approximately 100 businesses and 400 individuals. Hanoi police are understood to have arrested individuals associated with the Million Smiles company, which orchestrated an illegal and fraudulent cryptocurrency investment scheme targeting Vietnamese citizens, promoting its in-house cryptocurrency QFS (Quantum Financial System). In addition to promising unrealistic returns, the company falsely claimed that owning QFS would allow individuals and businesses to enter the financial ecosystem and receive benefits such as unsecured or interest-free financing. (Cointelegraph)