Get lost, Vietnam, full of talent, right? 😼
--------
A cryptocurrency investment scam that appropriated 1.3 trillion VND has led to the arrest of Trần Quang Út, 39 years old, along with accomplices who set up a cryptocurrency project, calling for many people to invest, then appropriating nearly 1.3 trillion VND.
According to the investigation, in September 2024, Út and Tấn launched the fake project Kayple, introducing it as an integrated blockchain ecosystem with a decentralized exchange (DEX) and a Play-to-Earn gaming platform. The defendants promoted the project with automated trading using artificial intelligence (AI), cross-chain compatibility, and building a sustainable in-game economy, thereby increasing the value of the Kay token, and the system would automatically pay interest based on the amount invested by the investor.
Tấn and Út advertised the project as being established abroad, with many people from different countries participating in the investment. The defendants provided false information that the total supply was only 7 million Kay tokens, making it increasingly scarce, with continuous value increases. At that time, the price of 1 Kay was introduced as 2 USDT (about 52,000 VND), calling on investors to participate early to reap high profits.
Later, Tấn and Út hired people to develop and promote the project in Ho Chi Minh City, Đăk Lăk, Bình Dương (old), organizing seminars, online meetings, and simultaneously establishing many Zalo and Telegram groups to guide investment. In these groups, the defendants frequently posted images of monthly profits, flaunting assets to create a facade of wealth, targeting the trust of the victims.
$RAVE $BEAT $XPIN
