Hanoi Police warn of rising cryptocurrency investment scams

Hanoi Police have issued warnings regarding increasing cryptocurrency-related scams targeting citizens in Vietnam. With approximately 17 million crypto asset holders and a high global adoption rate, the region has become a significant target for cybercriminals.

Scammers utilize several sophisticated methods, including creating fake tokens, websites, and applications that promise high returns. They often build trust by posing as successful investors on social media or using the likeness of influencers and experts. Some schemes involve setting up fake exchanges that use automated bots to manipulate market liquidity and prices before abandoning the system.

Additionally, criminals are using malicious links, malware, and fraudulent QR codes to seize control of digital wallets and accounts. In a related incident in Bac Ninh province, authorities prosecuted individuals for illegally accessing Binance accounts through deceptive USDT transactions and malicious QR codes.