Vietnamese authorities have dismantled a cross-border fraud ring operating from Laos, targeting victims through romance scams and fraudulent cryptocurrency schemes.
Bollywoodfever: Vietnamese authorities have successfully dismantled a cross-border fraud network involved in romance scams and cryptocurrency schemes, which defrauded victims of tens of billions of dong. The operation, led by foreign criminals and operating from Laos, primarily targeted Vietnamese citizens using fake cryptocurrencies to lure them into the scam.
The network, based in the Golden Triangle Special Economic Zone in Bokeo Province, Laos, employed romance scams to build trust with victims before persuading them to invest in fraudulent digital currencies. Vietnamese suspects trained in digital deception were integral to the scheme, with key individuals arrested for their involvement.

Among the arrested were Vi Văn Linh and Kha Văn Úc, who were involved in defrauding a Lam Dong Province resident out of 17.6 billion dong through the fake “Biconomynft” platform. Úc also took an additional 1 billion dong from the same victim.
Following their arrests, the investigation expanded, leading to the capture of three more suspects: Lộc Văn Tào, Lương Văn Hiền, and Vi Thị Lệ. Police revealed that these suspects had received training from the foreign-led group to execute the scam effectively.
The fraudsters used fabricated social media profiles, posing as wealthy individuals to develop romantic connections with their targets. Once trust was established, victims were persuaded to invest in the bogus cryptocurrency app. Small returns were initially offered to build credibility, but as larger investments were made, the victims’ accounts were frozen, and the funds seized.
The case highlights the growing sophistication of cross-border fraud operations and the importance of vigilance in the face of cryptocurrency-related scams.
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