Police search for victims involved in Kittyrun cryptocurrency project

The Investigation Police Agency (IPA) of Tuyen Quang Provincial Police is investigating the case of using computer networks, telecommunications networks, and electronic means to commit property appropriation, which occurred in 2024 in Tuyen Quang province and a number of provinces and cities across the country.

Kittyrun cryptocurrency investment project.

The initial investigation determined that, around May 2024, Nguyen Thanh Tung, born in 1989, residing at Apartment 4016, Building S3 Goldmark City, No. 136, Ho Tung Mau Street, Group 21, Phu Dien Ward, Bac Tu Liem District (now Phu Dien Ward), Hanoi City; Dang Dinh Nam, born in 1990, residing at Apartment 2302, Building I5, Smart City Urban Area, Tay Mo Ward, Nam Tu Liem District (now Tay Mo Ward), Hanoi City; Nguyen Van Yeu, born in 1983, residing at Apartment 2704 CT1B, Nam Bo Apartment, No. 609, Truong Dinh Street, Thinh Liet Ward, Hoang Mai District (now Hoang Mai Ward), Hanoi City; Le Van Tuyen, born in 1991 and Le Van Duc, born in 1994, both residing in Nguyen Xa village, Trung Hoa commune, Yen My district (now Yen My commune), Hung Yen province, and a number of other subjects established a cryptocurrency project, agreeing on the project name Kittyrun (the project's cryptocurrency has the symbol KTR). The subjects agreed on the project implementation content according to the "Gamefi" model (a video game model combining key chains and decentralized finance); the KTR cryptocurrency will be listed on the "PancakeSwap" decentralized cryptocurrency exchange. The KTR cryptocurrency has a total supply of 3,200,000,000 KTR.

The project operates on a multi-level model, specifically, every time an investor transfers USDT (USDT is a cryptocurrency, with a conversion value of 01 USDT equal to 01 US dollar) into the project, the project will automatically divide a part to pay commission to the referrer, a part to create a reward fund for those who invest a lot; a part is transferred to the KTR - USDT liquidity pool on Pancakeswap to pay KTR interest and appropriate a part to share with the project creators.

The mechanism works as follows: After users deposit USDT into their wallets and register to invest via the website: https://kittyrun.io/, they will authorize a smart contract to spend 32 USDT or 480 USDT, as desired. Each time they participate in investing in the project is 32 USDT (if they use 480 USDT to participate in investing, it is equivalent to 15 participations). After being authorized, this smart contract will distribute the USDT in the user's wallet as follows:

- Transfer 25.5 USDT to the KTR-USDT liquidity pool on Pancakeswap: This amount will be used to transfer back the amount of KTR with a conversion value (at the time of conversion) equivalent to the initial investment of 32 USDT plus a bonus of about 18% - 20% of the investment amount of about 37.76 USDT - 38.4 USDT to the user's wallet (the transfer of the amount of KTR is done after 01 month from the date of investment participation).

- Transfer 3.2 USDT to the project referral wallet address (F1 wallet).

- Transfer 0.96 USDT to the wallet address of the F1 wallet participating in the project (F2 wallet).

- Transfer 0.086 USDT to the wallet address of the F2 wallet participating in the project (F3 wallet).

- Transfer 01 USDT to 01 wallet address directly managed by the group of subjects, used to appropriate investors' money.

- Transfer 0.97 USDT to 01 wallet address and used as bonus for high ranked wallets.

- Transfer 0.284 USDT to high-ranking wallets.

After the participant invests and receives the KTR amount worth about 37.76 USDT - 38.4 USDT back into the wallet, the participant will convert the rewarded KTR amount to USDT to benefit. Each time KTR is converted to USDT, the user will lose a portion of the tax to the target group (the tax is collected in KTR, the current tax rate is 03% of the converted KTR). The tax will be transferred to the wallets designated and managed by the target group and then sold to USDT to benefit.

By using the trick of making huge commission and profit commitments to attract investors to participate, deposit money and then appropriate, in total, the subjects have attracted many people to participate, created 17,941 electronic wallets, deposited over 18,852,320 USDT (equivalent to about 490,000,000,000 VND). The total amount of money the subjects appropriated from appropriating 01 USDT each time an investor invested was 589,135 USDT (worth about 15,317,510,000 VND).

To serve the investigation and handling of crimes and ensure the rights of victims whose money was appropriated by the subjects when transferring USDT to invest in the Kittyrun project, the Investigation Police Agency of Tuyen Quang Province Police requests that individuals and organizations who are victims in the above case know, contact and provide documents and evidence to the Investigation Police Agency of Tuyen Quang Province Police for support and guidance on resolution.

Contact address: Office of the Investigation Police Agency of Tuyen Quang Provincial Police (Phan Thiet 3 Residential Group, Minh Xuan Ward, Tuyen Quang Province).

Pham Quang Huy

Ministry of Public Security's electronic information portal View link

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https://bocongan.gov.vn/bai-viet/thong-bao-tim-bi-hai-tham-gia-du-an-dong-tien-dien-tu-kittyrun-1757930044

Source: https://nhandan.vn/co-quan-cong-an-tim-bi-hai-tham-gia-du-an-dong-tien-dien-tu-kittyrun-post908279.html