Da Nang police dismantle 700 billion VND money laundering ring

Da Nang Police's Security Investigation Agency has dismantled a money laundering network involving approximately 700 billion VND (roughly $28 million USD) linked to online fraud activities. On October 26, authorities arrested Nguyen Hung Dat and placed Chu Duc Anh and Vu Thi Thanh under house arrest for money laundering.

The investigation began following reports from victims in Da Nang who were targeted by online scams. One method involved enticing victims to register on websites such as ‘Therealreal.cc’ and ‘tiffa.tiffyfd.com’ to pay for clothing, footwear, and jewelry under the guise of earning commissions. Another tactic used ‘wrong COD payment’ lures, where victims were directed to suspicious links to scan their faces and confirm passwords, leading to identity theft and loss of account control.

To evade detection, the perpetrators split the stolen funds across numerous bank accounts before converting them into USDT via cryptocurrency exchanges, including Binance and OKX. The laundered funds were then transferred into private digital wallets managed by the suspects.