🚔 The Hanoi Police recently arrested 8 suspects in the CrossFi scam ring, seizing assets worth 500 billion dong, including many supercars and real estate.
CrossFi - The Ponzi Scam Crypto Project
On February 19, 2025, the Hanoi Police announced the investigation results and dismantled #CrossFi - a crypto project operating under a Ponzi model, luring the public to invest in MPX tokens to mine XFI tokens.
📌 The Scam Tricks of CrossFi:
✔ Luring Investors: Promising high profits from purchasing MPX tokens to mine XFI.
✔ Organizing grand seminars: Inviting financial and crypto KOLs to create credibility.
✔ Paying initial profits to build trust, then absconding with the money when there are no new funds.
Many people lost billions of dong, with some cases suffering losses of up to 13 billion dong.
Police Crack Down on Scam Ring
After months of investigation, the police arrested 8 masterminds and seized a huge amount of assets:
🚗 Supercars: Rolls-Royce, Lexus, Mercedes.
🏠 Luxury real estate.
💰 Total assets seized amounted to 500 billion dong.
Major General Nguyễn Thanh Tùng, Deputy Director of the Hanoi Police, stated that this is a transnational scam ring, operating for 5-6 years and has raised millions of USD from gullible investors.
Investor Warning
⚠ CrossFi does not have a license in Vietnam and only uses blockchain to disguise its fraudulent activities.
📉 Right after the incident was exposed, the price#XFI fell by more than 38%, down to 0.19 USD.
💡 Advice: Always carefully check projects before investing, avoid promises of 'huge' profits, and do not trust projects without clear legal status. 🚀 #anhbacong
