Vietnamese police uncover large-scale cryptocurrency scam case, five suspects impersonate investment experts to conduct cross-border money laundering

NonFungibleDegen · 2026-01-18T08:56:12+00:00

Vietnamese police recently dismantled a cross-border cryptocurrency scam gang rooted in Cambodia in Da Nang, arresting five suspects. The gang disguised itself as the Nasdaq exchange, using fake accounts and exaggerated profits to lure victims into investing, and embezzled 1.4 billion VND. They employed complex money laundering techniques to make tracking funds difficult. This incident serves as a reminder for investors to carefully verify investment channels.

NonFungibleDegen

2026-01-18 08:56:12

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【Blockchain Rhythm】Recently, Vietnamese police dismantled a cross-border cryptocurrency scam gang in the Da Nang area, arresting five key suspects. This mafia-level scam, based in Cambodia, disguised itself as the Nasdaq exchange, opening大量 fake accounts on Zalo and Telegram, laying a trap.

Their tactics are common but effective: scammers claiming to be investment experts lure victims in, fabricate trading data to create a “profit illusion,” and foster an optimistic investment atmosphere. Step by step, they lower victims’ guard.

According to Vietnamese police investigations, the gang embezzled a total of 14 billion VND (approximately $5.328 million). Importantly— their money laundering methods are also “professional”: funds are first transferred into multiple bank accounts, with multi-layer transfers to create confusion, and finally exchanged into cryptocurrencies to erase transaction traces. This encryption process makes it extremely difficult to trace the flow of funds.

This case once again reminds us that before entering any investment channel, thorough verification and cautious discernment are essential. Fake exchanges, impersonated experts, promises of quick wealth—these are always classic combinations of scams.

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ShitcoinConnoisseur

· 16h ago

It's the same old story. I've seen enough fake accounts on Zalo and Telegram to be immune to it. Really, why do people still fall for these scams? Just looking at the market data reveals countless flaws. This money laundering process isn't new either—multi-layer transfers and crypto withdrawals. The police catch one after another, yet new victims keep coming. The joke about Cambodia as the main base is outdated. Change the location, but the same tactics are used. Truly astonishing. 140 billion VND sounds like a lot, but only about $53,000 USD. Think about whether their "investment costs" are worth it. The most common question in Telegram groups is whether I can help them make quick money. I just add them to the blacklist. Honestly, instead of busting these small gangs, it would be better to tighten exchange risk controls. After this news came out, someone will definitely say, "My friend is inside," hahaha. Posing as Nasdaq? That's too amateur. Anyone with a bit of trading knowledge can see through it.

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WhaleWatcher

· 16h ago

Really, this trick is obvious at a glance. Are there still people falling for it? Products from Cambodia are definitely scams, old tricks. 140 billion VND? That's nothing, on-chain money laundering is the real art. Why are there so many scammers on Zalo and Telegram platforms? It's just fake Nasdaq again, these scammers really have no creativity. The multi-layer transfer method is outdated; now everyone uses atomic swaps. Are all the naive people fooled by the illusion of profit because they haven't done their homework? These five people are just taking the blame for the entire industry. Money laundering chain: Bank → Multiple accounts → Crypto → Disappears without a trace, elementary school math problem. The funniest part is that some people still believe in the "investment expert" spiel, hilarious.

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GateUser-5854de8b

· 16h ago

It's the same old trick again, pretending to be Nasdaq to scam people, really outrageous. How can there still be people who believe in the "investment expert" routine? Wake up, everyone. Money laundering methods are quite diverse, with multi-layer transfers and currency exchanges. No wonder it's so hard to track. I don't trust a single "expert" on Telegram and Zalo. How about you? 140 billion dollars... really daring to make a move, but they were a bit late. Why do these gangs always start in Cambodia? The regulation there is really lax. Faking profits and illusions is a brilliant move; so many people have fallen for this. The crypto money laundering process feels like it's been overused, yet some still fall for it. Five people running such a big operation, the organization is quite high. Multi-chain transfers and withdrawal requests—law enforcement will find it really difficult to track this.

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GasFeeCrybaby

· 16h ago

It's the same old trick again, who would still fall for it... Wait, did someone really get scammed out of 530,000 USD? Really, can't even prevent mass fake accounts on Zalo? Every day in the Telegram group, there are "investment experts" like this, it should have been investigated long ago. No matter how professional the money laundering methods are, they can't escape on-chain tracking; the truth will come out sooner or later. Trying to erase traces with multi-chain transfers, these people really think technology is that simple. Cambodia, Vietnam... cross-border scam chains are getting longer and longer. Starting with 14 billion VND, this system is quite mature... but getting caught is a different story. The entire web of surveillance is set up, yet they still get caught by the police; no matter how advanced the technology, it’s useless. That's why I never believe in strangers' promises of "stable returns," it's the same principle.

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NeonCollector

· 16h ago

It's the same old trick, every day on Zalo and TG it's always this kind of account, really annoying. This wave of money laundering techniques is indeed ruthless, multi-layer transfers plus cryptocurrencies, it's really hard to trace. $530,000, this gang isn't that big, it seems like only small pawns are caught. Impersonating Nasdaq? Such a low-level scam, and some people still believe it, victims are truly unbelievable. Multi-layer transfers then exchanged into coins, isn't this the standard financial crime SOP? Impossible to guard against. Vietnamese police responded quite quickly this time, but where did the big players go afterward? That false illusion of profit, I have friends who have fallen for it, greed kills. Money laundering definitely requires exchanges to strengthen risk control; relying solely on police is too passive.

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Frontrunner

· 16h ago

These people are really ruthless, turning scam routines into an industrial level. Both Telegram and Zalo, these platforms really should strengthen KYC. 140 billion tokens? It doesn't sound like much, but it can still be quite convincing in USD. The speechwriter job is really highly profitable. Multi-layer transfer money laundering schemes are so old-fashioned, I really didn't expect anyone to fall for them. Impersonating Nasdaq haha, they have no limits on their boldness. They should have been investigated long ago, but the problem is that even if they are caught, the money is already gone. Fake accounts registered in bulk, showing that platform review is virtually non-existent. Why do some people always believe that strangers can make you rich? I just don't understand.

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