#VietnamCryptoPolicy 🚨 Major Crypto Scam: Matrix Chain (MTC)

Scale: Scammed ~138,000 victims, netting nearly ₫10 trillion (~US $386 million)

How it worked: A pyramid-type scheme through a fake exchange and token, promoted via Telegram, Facebook, and in-person seminars with promises of high returns and referral bonuses .

Arrests: On May 28, Nguyen Quoc Hung (41) and four accomplices were arrested in Dong Nai Province; dozens more are under investigation .

Money trail: Collected fees through SafePal wallets, manipulated token prices, diverted funds into real estate, marketing, and large recruiter commissions .