On 19/9, the Investigative Police Department of Da Nang City arrested and charged Pham Tuan Thanh, 23, from Ninh Binh; Nguyen Huy Hiep, 27, from Hanoi; and Pham Tien Dung, 26, from Hung Yen, for using computer networks, telecommunications networks, and electronic means to commit property appropriation.

The three suspects in custody. Photo: Thanh Anh

The investigation revealed the group conspired to establish "VIP" groups on social media and commissioned the design of a website that mimicked established cryptocurrency projects. They then enticed victims to use funds from their bank accounts to purchase USDT and deposit it into cryptocurrency wallets controlled by the group.

Following this, the scammers employed deceptive tactics to convince victims to connect their MetaMask wallets and grant hidden spending authorization. They also created worthless tokens, such as SAH and KAR, presenting them as legitimate investment products to deceive victims into believing the transactions were successful.

Authorities estimate the group defrauded two victims of nearly 5 billion VND.

Ngoc Truong