Authorities have apprehended four suspects: Tran Minh Quang (41), Nguyen Trung Nam (42), Luong Hoai Nam (39), all from Bien Hoa City, Dong Nai Province, and Nguyen Xuan Toan (32) from Binh Thuan Province.

Tran Minh Quang, identified as the ringleader, operated the scheme through a fraudulent website named "BITMINER." The group falsely claimed the platform was an international investment project registered in Singapore, with a fictitious office in Dubai listed on Google Maps to lend credibility.

The fraudulent operation

The group used private online forums and exaggerated promises of “high returns” to lure participants. Victims were enticed to purchase the cryptocurrency "USDT" and transfer it to the scammers' wallets to activate so-called “diamond mining” packages.

The packages, with names like "Red Diamond," "Black Diamond," and "Green Diamond," appeared legitimate and lucrative to unsuspecting investors.

Additionally, the group held live seminars under themes such as "Harnessing AI technology for the future of mining" to further recruit victims.

In mid-December 2024, Dong Nai police, in coordination with other agencies, conducted raids to arrest the suspects and confiscated numerous pieces of evidence.

Initial investigations revealed the ring had defrauded more than 200 individuals of nearly 4 billion VND.

Authorities are continuing to investigate the case and are expanding their efforts to uncover further victims and accomplices.

Hoang Anh