Recently, Vietnamese law enforcement authorities in Da Nang uncovered a major cryptocurrency scam case. The five suspects arrested are based in Cambodia and meticulously orchestrated a large-scale investment scam—mimicking the interface of the Nasdaq exchange, creating dozens of fake accounts on social platforms such as Zalo and Telegram.

The scammers' tactics are simple and crude: impersonating "investment advisors" to contact victims, posting false trading data and profit reports, and promising high returns. Once victims deposit funds, the money is immediately misappropriated. According to police investigations, the scam involved approximately 14 billion VND, equivalent to about $5,328,000 USD.

What’s more cunning is that the scam gang did not directly spend the money—they dispersed the funds into multiple bank accounts for transfers, eventually converting them into cryptocurrencies to launder the source of the funds. This multi-layered fund flow design makes tracking extremely difficult. This case serves as a reminder to investors: always verify the official identity of trading platforms, be cautious of "expert recommendations" on social media, and think twice before investing in any opportunity promising high returns.