Before the case of Shark Nguyen Hoa Binh, a series of virtual currency scam projects were destroyed.

(Dan Tri) - Recently, a series of virtual currency projects disguised as multi-level marketing have been busted by the police, with the amount of money appropriated ranging from several hundred billion to tens of thousands of billions of VND, causing heavy losses to investors.

On the afternoon of October 6, at the press conference of the Ministry of Public Security, a representative of the Hanoi Police Department provided information related to the AntEx virtual currency project of Mr. Nguyen Hoa Binh (commonly known as Shark Binh).

A report from an individual, the amount of money embezzled is about 2,000 USD at the AntEx project

Colonel Nguyen Duc Long, Deputy Director of Hanoi City Police, said that recently, on social networks and some press agencies, information appeared about many people losing money when participating in the AntEx virtual currency project.

The incident involving Shark Nguyen Hoa Binh has attracted a lot of attention. Previously, there were also accusations back and forth between Mr. Nguyen Hoa Binh and the group developing this virtual currency, attracting attention on social networks.

The Ministry of Public Security ’s Investigation Agency and Hanoi City Police have launched an investigation. Initially, the investigation agency received a complaint from an individual, with the amount of money embezzled being about 2,000 USD.

In fact, before the incident involving Shark Nguyen Hoa Binh, many cases of virtual currency projects swindling tens of thousands of billions were busted by the police.

Police were present at building 18 Tam Trinh - where businessman Nguyen Hoa Binh's company is headquartered (Photo: Son Nguyen).

A series of cryptocurrency scam projects have been busted.

On August 21, Hanoi City Police announced that they had dismantled a group of people who issued and promoted investment in virtual currency projects called “Wingstep” and “Game Naga Kingdom”, mobilizing up to 7.86 million USD (about 200 billion VND) from more than 3,000 investors.

The defendant is Dang Quoc Thang (born 1986, Hanoi), who founded Maxx Group Company to promote the projects “Wingstep” and “Game Naga Kingdom”. With Wingstep, users download the “moiza.io” application, buy NFT shoes worth 100-1,200 USD/pair, walk or run to receive WST rewards converted to BUSD. The project operated from May 2022 to August 2022, then lost liquidity, causing about 50 investors with a total amount of 300,000 USD (7.2 billion VND) to be misappropriated.

At the Naga Kingdom Game project, players buy NFT game characters (some NFT Pigs cost up to 400 million VND) to earn virtual currency "Maga" to exchange for BUSD, with a guaranteed profit of 5-8%/month and referral commissions of up to 10%. The project collapsed after 3 months, causing 20 investors to lose 60,000 USD (1.5 billion VND).

In June, Dong Nai Province Police also prosecuted and temporarily detained 5 suspects including Nguyen Quoc Hung (41 years old), Bui Thi Thanh Nga (34 years old), Ho Long Tri (45 years old), Dinh Huu Hay (34 years old) and Than Van Hiep (43 years old) for the act of "Fraudulent appropriation of property".

This group established the MTC (Matrix Chain) virtual currency exchange, organized promotional events, and attracted investors nationwide with the trick of "super-huge profits". The system is divided into 3 regions: North - Central - South, and operates in a multi-level manner.

Tens of thousands of people were lured into investing nearly VND10 trillion. Investigators determined this to be one of the largest virtual currency scams ever in Vietnam.

Recently, Phu Tho Provincial Police coordinated with the Ministry of Public Security to destroy a transnational organized crime group that illegally conducted multi-level marketing using the virtual currency PaynetCoin (PAYN).

According to information from the police, in 2021 this group created PAYN coin operating on the Blockchain platform, promising an interest rate of 5-9%/month. Investors are rewarded with PAYN and converted through FMCPAY.com, AFF2024.com, converted to USDT, USD or VND.

Phu Tho police have also simultaneously solved cases in Phu Tho, Hanoi, and Ho Chi Minh City, prosecuting 20 defendants for "Violating regulations on multi-level marketing" and "Using computer networks and electronic means to appropriate property" (Article 217a, 290 of the Penal Code). Many assets were seized and frozen with a value of thousands of billions of VND.

Source: https://dantri.com.vn/kinh-doanh/truoc-vu-shark-nguyen-hoa-binh-loat-du-an-lua-dao-tien-ao-da-bi-triet-pha-20251007165505096.htm