Prosecution of a group of subjects who stole accounts on 'Binance exchange' and appropriated 10 billion VND

On July 3, Bac Ninh Provincial Police successfully broke the case, issued a decision to prosecute the case and prosecute 4 suspects in Nghe An and Thanh Hoa for the act of "Fraudulent appropriation of property”, through unauthorized access to Binance app users' accounts.

Previously, the Cyber ​​Security and High-Tech Crime Prevention Department discovered that the account "HOANG_COIN_247" had signs of fraud, illegally accessing accounts to appropriate assets of Binance application users.

During the investigation, the police identified four suspects in the case. The ringleader was Nguyen Duc Hung (25 years old, in Nghia Dan district, Nghe An province).

Through social networks, Hung learned how to illegally access users' accounts on the Binance cryptocurrency exchange, then bought accounts and attached phone numbers (junk SIMs), and linked them to bank accounts (not in his name) as a payment method.

After completing these accounts, Hung's group accessed the website, placed an order to buy a certain amount of cryptocurrency (USDT) and quickly offered it for sale on the exchange at a low price to attract buyers.

When someone bought USDT that Hung sold, this subject sent a message without confirming the USDT transfer order code to make the buyer mistakenly think that the transaction was an error. From there, he asked the buyer to scan the QR code provided by Hung to support setting up a manual USDT transfer order. When the buyer clicked on the account, Hung's group immediately took control and withdrew all the cryptocurrency in the account's wallet, then placed an order to sell all of that USDT.

Also committing the act with Hung were Hoang Dinh Tai (27 years old, in Nghia Dan district, Nghe An); Nguyen Phung Hoang (22 years old, in Thanh Chuong district, Nghe An) and Nguyen Anh Tuan (26 years old, in Nhu Xuan district, Thanh Hoa province).

According to authorities, from the beginning of 2024 until now, with the above tricks, the subjects initially confessed to having successfully carried out more than 50 cases, appropriating about 10 billion VND from many victims in provinces and cities nationwide.

The subjects used the money they embezzled to buy cars, top up games, and spend on personal expenses.

As a result of checking and searching the suspects' residences, the authorities seized 6 mobile phones; 4 laptops; 3 USBs; 130 million VND in cash and 37 bank accounts of various types.

Currently, the authorities have frozen 1 bank account and suspended car sales transactions with a total amount of more than 1 billion VND.