Vietnam Cracks Down on $1 Million Crypto Scam, Saving Hundreds from Financial...
In a fortunate move, the Vietnamese authorities were able to successfully dismantle a large-scale cryptocurrency scam orchestrated by a company called ‘Million Smiles,’ protecting nearly 300 potential victims from financial exploitation. The scheme, built around a fictitious token called QFS (Quantum Financial System), had already swindled approximately $1.17 million (30 billion VND) from around 400 […]
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This particular Ponzi Scheme in Vietnam will give Bitcoin a bad reputation in the country. Cryptocurrency is not regulated by the banks, and the local government is not too keen on Bitcoin either. Ever since the inception of Bitcoin, there have been individuals and companies trying to discredit cryptocurrency. Some of them even go as far as setting up deliberate Ponzi Schemes to defraud Bitcoin investors. Such a scheme seems to be on the brink of collapse in Vietnam. Hundreds of people have been burned by this pyramid scheme, which seemed to rely on an MLM structure. It is not the first....
The Delaware Department of Justice’s Investor Protection Unit has issued a cease and desist order against 23 entities and individuals involved in a popular cryptocurrency scam known as “pig butchering.” The order also freezes the accounts allegedly holding cryptocurrencies belonging to the victims.
Delaware Cracks Down on Pig Butchering Crypto Scam
The attorney general of the U.S. state of Delaware, Kathy Jennings, announced Wednesday that the Investor Protection Unit of the state’s Department of Justice (DOJ) has “issued a summary order....
Miners in Vietnam have expressed grievances over the loss of business following Ethereum’s transition to a consensus mechanism that does not require the energy-intensive computing they were providing. Many are in trouble, local media reported, quoting entrepreneurs and mining enthusiasts.
Cryptocurrency Miners Hit by The Merge, Vietnam Report Reveals
Vietnam’s crypto miners have suffered heavy losses with their mining rigs now shut off after the second-largest cryptocurrency by market capitalization switched to a more energy-efficient framework, VN Express noted in....
Bitcoin ATM operator EasyBit said today it plans to install three new bitcoin ATMs in Vietnam. The company already operates one machine in Ho Chi Minh City, the country’s largest city. At the same time, it announced a partnership with local exchange Bitcoin Vietnam to supply all four machines. EasyBit already operates over 60 bitcoin ATMs in over 10....
Interesting news in regards to the expansion of bitcoin across the world comes in the fashion of expansion through Vietnam. VBTC Vietnam and Coinarch Pte announce that they will bring upon Vietnam, the first live bitcoin trading platform. This platform will be named VBTC plus, and it will offer advanced trading tools to Vietnam. The cooperation between VBTC Vietnam and Coinarch is one that makes much sense due to the high level of expertise offered by both of them. VBTC, having experience in the domestic market while Coinarch is led by a very good team with expertise in financial markets....