Vietnam police seek victims of Valkyrio NFT game fraud

The Hải Phòng City Police Department announced an investigation into the Valkyrio NFT game, which operated from September 2021 to December 2022. The scheme promoted a "play‑to‑earn" model, issuing the VALK and YARIO tokens and encouraging investors to convert cryptocurrencies such as BNB and USDT into VALK tokens for purchasing virtual NFT characters.

Authorities say the organizers used marketing tactics and automated trading bots to create the appearance of active trading, then drained fees and collapsed the system, leaving the tokens illiquid and causing financial losses for many participants. Police are urging anyone who invested in the Valkyrio project to contact the investigation team at the Hải Phòng police headquarters or reach investigator Bùi Huy Tập at the phone number provided.