Vietnamese police have arrested five suspects in Da Nang for operating a cryptocurrency scam ring. Based in Cambodia, the group defrauded victims of 14 billion Vietnamese dong (approximately US$532,800) by operating a fake investment platform mimicking Nasdaq. Police investigations revealed that Nguyen Van Chung traveled to Cambodia in early 2024 and conspired with a Chinese national, A Long, to organize the scam. The group used Zalo and Telegram to post fake trading information, enticing victims to invest. Funds were then transferred through multiple bank accounts and converted into cryptocurrency to conceal their origin. Police have seized USB drives containing scripts for the scam, mobile phones, laptops, and over 5.2 billion Vietnamese dong in cash. The case is still under further investigation.