72 people were scammed out of 5 billion VND investing in virtual currency
Authorities are verifying the accusations of 72 people that they were scammed and had 5 billion VND appropriated to invest in opening virtual booths.
Vinh Phuc Provincial Police are verifying the accusations of 72 people that they were scammed and had 5 billion VND appropriated to invest in opening virtual booths.
To lure victims, scammers set up e-commerce websites such as “Webshopping.cc” (multi-level marketing selling virtual stores); Coolcat.com (market prediction platform for virtual gold, virtual currency and USD)…
These pages have Vietnamese language interfaces, along with applications and create fanpages on social networks such as Zalo and Facebook to advertise, introduce, and guide how to participate in making money.
The advertisement has content that appeals to the greed of getting rich quickly by registering an account on a phone or computer and then depositing money to invest. Money is transferred to the account shown on the website interface.
Participants will perform tasks of competing for singles, snatching virtual goods (60 tasks/day) and placing orders to buy foreign currencies, Bitcoin, predicting exchange rates...
By creating an interface that displays the investor's virtual money increasing regularly and insuring the investment by 100%, the subject has encouraged investors to actively deposit money to have a transaction level with a larger interest rate.
In addition to income from virtual booths, each player who introduces new members will be paid additional amounts by the "administrators" similar to many multi-level marketing models.
To create trust for players, on the website there is a withdrawal section to withdraw profits. In fact, some cases have withdrawn part of the profits, making many people trust.
However, after a while, when the players deposit enough money into the website, the subjects will delete the website, disappearing and leaving the investors behind.