Vietnam police dismantle transnational crypto‑investment fraud ring, seize assets worth over VND 3,000 trillion

On 7 May 2026, the Quang Trị provincial Criminal Police in Vietnam announced the successful bust of a high‑level, cross‑border fraud network that operated from Cambodia. The ring targeted middle‑aged women nationwide, luring victims into fake cryptocurrency and foreign‑exchange investments through professionally designed websites such as “cme‑trading.online” and “cmetradingvn.com”. Victims were first befriended via social media, then presented with fabricated profit statements before the perpetrators locked accounts and siphoned the funds.

Authorities seized the operation after a coordinated effort involving eight task forces from several provinces. Sixty‑one suspects were arrested and charged with “fraudulent appropriation of assets” under Article 174 of Vietnam’s Penal Code. Preliminary estimates place the total loss at more than VND 3,000 trillion (over $130 million) per year, with a single victim in Quang Trị losing VND 2.7 trillion. Investigations continue to identify additional participants and trace the money flow.

The crackdown demonstrates Vietnam’s intensified focus on high‑tech scams that exploit personal data and online platforms, and underscores cooperation with regional partners to combat organized crime that spans borders.