⚡ Crypto Scam — Fake Mining Platform Targets 200 Users
posted 6 Jan 2025
Vietnamese police have arrested four suspects accused of defrauding more than 200 people through a fake crypto-mining platform.
Promising high returns, the organizers marketed their scheme as a licensed Dubai-based platform supported by global investors. Customers were encouraged to choose from numerous mining plans based on their initial investments, with regular forums and courses designed to establish credibility.
To sustain the deception, the scammers hired operatives to manipulate user accounts, fabricating an illusion of steady profits and operational activity. They further claimed to utilize advanced technologies like artificial intelligence, presenting it as a breakthrough innovation for their company.
Suspected fraudster (left). Source: Official VnExpress website
Scammers moved all client funds into private wallets, with initial estimates pegging the stolen sum at over $157,000. Unfortunately, scams like this are becoming increasingly prevalent in the crypto sector. In another recent incident, a California resident sued three Asian banks, accusing them of inadvertently aiding a $1 million crypto fraud.
Amid rising cases, U.S. law enforcement has issued guidelines for safe cryptocurrency use: thoroughly investigate platforms, avoid offers of extraordinary returns, and refrain from using crypto ATMs for payments. Authorities also emphasize the danger of deepfakes, urging users to authenticate images carefully.
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