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Vietnam has recently taken a firm stance against a crypto mining scam group that had targeted over 200 victims. Law enforcement officials in Dong Nai Province have arrested four suspects who were involved in a scheme that defrauded unsuspecting investors of a significant amount.
According to reports, the scammers created a fake cryptocurrency mining website called BitMiner and registered it under a Singaporean domain. The group posed as a Dubai-based company, selling fake cryptocurrency mining packages with varying speeds and educational materials, trying to appear legitimate. Additionally, they recruited several individuals to spread false promises about their investment opportunities.
It’s alleged that instead of using the funds for genuine cryptocurrency mining activities, the scammers transferred all investments into wallets controlled by the mastermind behind the operation, Tran Minh Quang, and his accomplices.
This scam is just one of many recent cases of crypto-related fraud in Vietnam. In fact, just a week ago, authorities cracked down on another scam that had already stolen around 30 billion Vietnamese dong (approximately $1.17 million) from approximately 400 individuals and businesses. The scam was carried out by a group known as Million Smiles and involved false promises tied to the Quantum Financial System (QFS) token.
The recent surge in crypto scams in Vietnam highlights the need for vigilance and education among investors. With the rapid growth of the cryptocurrency market, it’s essential that users are aware of the risks and take necessary precautions to protect themselves from fraudulent activities.
The Vietnamese government has shown a commitment to cracking down on these types of scams, and their efforts have already yielded significant results.
Source: www.cryptonewsz.com
