#VietnamCryptoPolicy

A Vietnamese citizen named Ngo Thi Teug, also known as Madam Ngo, has been arrested in Bangkok for orchestrating a major scheme involving cryptocurrency fraud valued at around 300 million dollars, running a large-scale operation with over 1,000 employees in Vietnam.

According to the police, the fraud scheme operated under the guise of cryptocurrency and forex investment, attracting about 2,600 victims by promising monthly returns of 20-30 percent.

The fraudsters created a false sense of trust by distributing a portion of the money received from new investors as profits to early investors, convincing them that the scheme was entirely safe and without risk.