Vietnamese police crack down on transnational crypto scam: 5 people impersonate exchanges to scam $530,000

SignatureVerifier · 2026-01-18T09:00:13+00:00

Vietnamese police in Da Nang have arrested five suspects involved in a scam gang based in Cambodia that operates crypto scams. They simulated Nasdaq, embezzled 14 billion VND, and used fake accounts to lure investments. The proceeds from the scam were transferred through multiple accounts and exchanged for cryptocurrencies, warning people to be cautious of unfamiliar high-yield investment recommendations.

SignatureVerifier

2026-01-18 09:00:13

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【Crypto World】Vietnamese police have arrested five suspects in Da Nang for fraud. The operation tactics of this gang sound a bit familiar—they are based in Cambodia and specialize in running crypto scam activities.

What did they do? Simply put, they were imitating. The suspects mimicked the appearance of the Nasdaq exchange and embezzled 1.4 billion VND (approximately $53,280 USD). The amount may not seem huge, but this is just one case.

The details of their methods are even more noteworthy. These people equipped themselves with a complete set of telecommunications and electronic devices, enabling them to run the entire scam from their residence in Da Nang. They created dozens of fake accounts on Zalo and Telegram, then impersonated investment experts or financial advisors, fabricating various fake trading activities to lure victims. The victims’ invested money appeared on reports as highly profitable, but in reality, everything was fake.

The final step, from an anti-money laundering perspective, is the most critical: these scam proceeds are transferred through multiple bank accounts layer by layer, eventually exchanged into cryptocurrency. The purpose of this is obvious—trying to use blockchain’s anonymity to conceal the source of funds.

This case reminds us that fake exchanges and fake investment advisors are still active. If you encounter strangers on social media actively recommending high-yield investments or showing enticing profit reports, it’s wise to stay cautious.

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FOMOSapien

· 8h ago

Here we go again with the same tricks, fake accounts on clone exchanges—how many retail investors do they need to scam to gather 530,000... --- Dozens of fake accounts pretending to be experts on Zalo and Telegram—truly impressive, this method is everywhere. --- 53 million USD just gone like that—where's the victim's stop-loss point? --- Cambodia headquarters, Vietnam operations—this transnational scam group treats Southeast Asia as their backyard. --- Fake reports full of fluff—I just want to know who would believe such low-level fabrications. --- A complete telecom equipment system just to scam this amount of money—how poor must the return rate be to justify such effort? --- Opening dozens of fake accounts—how idle must they be? Might as well go all-in on a certain coin and gamble with luck. --- The anti-money laundering step was cut—ha, that’s definitely the most interesting part. --- Another Telegram scam—this platform has truly become a paradise for scammers. --- Impersonating investment experts—this trick is seen in every bear market. When will they finally learn?

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SnapshotStriker

· 8h ago

It's the same old trick again. The number of scam exchanges is truly outrageous; a quick search on Telegram and Zalo reveals all these fake accounts. Fake reports can really fool people, but anyone with a bit of vigilance can see through them. There should be a larger network behind these small cases; $530,000 is just the tip of the iceberg. Cambodia keeps appearing as a hub, as if no one has truly managed to take down this chain? Not even running an exchange is enough to satisfy their greed; they also copy others' shells to scam, it's really unbelievable. If these scammers are truly caught, how do you track the subsequent money laundering chain? It's not that simple, right?

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CommunityJanitor

· 8h ago

It's the same old trick again. Fake exchanges are truly top-notch; these days, scam gangs are even more professional than official forces. Fake accounts + fake reports, the tactics are exactly the same as those I've seen before. Why do people still fall for it? Only over half a million USD was caught; it feels like just the tip of the iceberg. There are definitely many more cases that haven't been exposed. Zalo and Telegram have been compromised. These two platforms need strict regulation. People involved in the final payments, be careful. Anti-money laundering is indeed the key to breaking the case. On-chain tracking is the way to go.

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WagmiAnon

· 8h ago

Is this the same trick again... Fake exchanges are now so common, always on Zalo and Telegram, making it hard to guard against. It seems pointless to catch these few people, there will definitely be more... $530,000 USD isn't really that much; the real big fish are probably still out there. Zalo really needs to be thoroughly investigated, with so many fake accounts, yet no one is managing it. So, this is why I say the biggest enemy in the crypto space isn't regulation, but these scammers... It's the same group from Cambodia again; these people are truly professionals. The scam of impersonating financial advisors has been overused; how are people still falling for it...

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StableGeniusDegen

· 8h ago

Again with the same tricks, clone exchanges + fake accounts to lure victims. These scammers are really everywhere. --- Can you set up such a big scheme with only $530,000? Their methods are quite professional, no wonder they can scam so many people. --- A bunch of fake accounts on Zalo and Telegram, fake investment advisors everywhere—it's really hard to guard against. --- Every time I see these cases, I think, how greedy must those people be to fall for it? The reports are so outrageous, yet they still believe. --- Operating a scam team from Cambodia—how mature must this transnational black market chain be? --- Honestly, only five people are caught. What about the masterminds behind the scenes? This is probably just the tip of the iceberg. --- Dozens of fake accounts, really treating Telegram as a money laundering tool. The platform should reflect on this. --- Only $530,000 for this? I thought it was a bigger case. Maybe it's really just the tip of the iceberg. --- I'm very familiar with the "pretending to be an expert" routine. Every day, there are these charlatans blowing in Discord groups. --- Supporting equipment, fake transactions, fake reports—this technique has really become industry standard.

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StablecoinEnjoyer

· 8h ago

It's the same old story with fake exchanges... Nine out of ten accounts on Telegram are scammers, I'm really speechless. Only caught $530,000, luckily someone reported it. --- A report full of profits haha, false prosperity is the most disgusting, victims all believe in the dream of making quick money. --- Is the scam industry chain in Cambodia and Southeast Asia already this mature? Feels like just the tip of the iceberg. --- Zalo and Telegram have really become hubs for scams. Can't the platform providers do anything to regulate them? --- Imitating Nasdaq... That's too bold, it's truly speechless that people can be fooled like this. --- A whole scam operation can be set up with just one device at home, is the barrier to entry really that low? I'm a bit scared. --- Every time I see these cases, I keep thinking, are the exchanges in our wallets really reliable?

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SolidityNewbie

· 8h ago

It's the same old trick in the crypto circle—copycat exchanges, this move is really played out... Wait, Zalo and Telegram can be used to open dozens of accounts to scam so many people? It shows that those being scammed still aren't cautious enough. Why do these fake exchange scams always succeed? Ultimately, it's human greed. Hundreds of thousands of dollars may not seem like much, but accumulating small amounts definitely makes anti-money laundering efforts more complicated. Since Cambodia is acting as the main base, maybe some on-chain detectives should take a look...

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