Police said they busted a multi-billion scam that centred on selling fake digital currency to unsuspecting victims on an “exceptionally large scale”.
At least seven people were arrested in connection with the fraudulent platform that was visited by millions of Vietnamese people, police announced on Thursday.
After summoning over 140 people for questioning, authorities arrested Vuong Le Vinh Nhan – a fintech and blockchain businessman also known as Eric Vuong – and six accomplices on charges of property appropriation and money laundering.
Since 2018, Vuong and his group created fake cryptocurrencies, issuing and selling them to investors through a platform known as Onus, police said.
Police said investors were defrauded of “billions of dollars”, without giving details.
Vuong is accused of promoting fake crypto, manipulating supply and demand and adjusting prices and urged investors to contact them with more information.
In a group of Onus investors, victims who fell for the scam expressed disappointment, with one user saying they were “devastated” after losing over US$15,000 (RM60,000). — AFP
