"Authorities in Vietnam have launched a sweeping investigation into one of the country's largest cryptocurrency fraud cases to date, detaining several high-profile figures accused of a multiyear scheme to misappropriate assets."
"Investigators allege that Nhan, Chien, Thao, and their associates created and promoted cryptocurrencies such as VNDC, ONUS, and HNG, selling them through the ONUS exchange."
"To lure investors, they allegedly used false advertising and manipulated supply and demand to artificially adjust prices under Nhan's direction."
"Authorities are urging victims to contact the Security Investigation Agency and warning the public to remain vigilant against online investment schemes disguised as technology ecosystems or cryptocurrency projects promising high returns."
Vietnam has initiated a large-scale investigation into a significant cryptocurrency fraud case, detaining several key individuals linked to a multiyear scheme. Over 140 people were questioned, and various electronic devices and financial records were seized to prevent evidence destruction. The Security Investigation Agency has formally charged the suspects with money laundering and other offenses. Key figures include Vuong Le Vinh Nhan and Tran Quang Chien, who allegedly manipulated cryptocurrency prices to attract investors through deceptive practices. Authorities are urging victims to report incidents and cautioning the public against fraudulent investment schemes.
Read at news.bitcoin.com
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