Vietnamese Authorities Crack Down on $400 Million Crypto Scam

Vietnamese law enforcement has arrested a group suspected of orchestrating a massive cryptocurrency scam known as ‘Matrix Chain,’ which defrauded investors of nearly $400 million. The alleged pyramid scheme operated across three regions in Vietnam, preying on individuals who were promised free access to the Matrix Chain software by paying just 1 USDT. The group then illegally transferred funds, estimated at approximately 394.2 million USDT, through various cryptocurrency wallets.