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Crypto Fraud Alert: Hanoi Police Seize Billions in Virtual Currency Scam, Warn Investors
The Hanoi City Police have issued a warning to investors after seizing billions of Vietnamese dong (VND) worth of assets from several virtual currency trading floors that were found to be involved in fraudulent activities. The arrest of key figures and seizure of assets is a stark reminder of the risks involved with investing in cryptocurrencies.
According to reports, an investigation by Hanoi City Police uncovered a plan by Trieu Nu Cuoi Company to host a conference with 300 customers at Bao Son Paradise in An Khanh Commune, Hoai Duc District, Hanoi, scheduled for December 24. During the raid, police seized documents and computers from the company’s offices.
The authorities found that Trieu Nu Cuoi Company had been promoting QFS coins, incorporating spiritual elements into its marketing efforts. It is estimated that the sale of these coins generated a staggering 30 billion VND in revenue. The company had planned to further promote QFS coins by convincing individuals to invest between 4 million and 39 million VND (approximately $190 to $1,350) at these events.
The Hanoi City Police’s Investigation Security Agency has issued a public notice urging anyone who may have been harmed in the case to contact them promptly for resolution through legal procedures. The agency is committed to protecting the rights and interests of those affected by this scam.
In light of this incident, the authorities are warning investors to exercise extreme caution when considering investments in virtual currencies. They urge people to thoroughly research and verify information before investing in cryptocurrencies, and to be wary of promotional offers that may seem too good to be true.
This case serves as a harsh reminder of the importance of due diligence and thorough research when it comes to cryptocurrency investments. It is essential for investors to stay informed about the latest developments in the space and to prioritize their financial security above all else.
Source: coinpedia.org
