Vietnamese Police Arrest Suspects in Cryptocurrency Scam Operation

According to PANews, Vietnamese authorities have apprehended five individuals in Da Nang suspected of running a cryptocurrency scam. The police stated that the suspects operated from Cambodia, imitating the Nasdaq exchange and misappropriating 1.4 billion Vietnamese dong. The suspects reportedly utilized a sophisticated telecommunications network and electronic devices to conduct illegal activities from their residences in Da Nang. The group created numerous fake accounts on platforms like Zalo and Telegram, posing as investment experts to deceive victims into investing by falsely reporting profits. The misappropriated funds were transferred through multiple bank accounts and eventually converted into cryptocurrency to obscure their origins.