🔥 HOT: More than 42,000 people fell into the trap, with damages totaling approximately 400 billion VND. Thanh Hoa Police dismantle Xintel cryptocurrency mining scam

A fraud ring disguised as a technology and cryptocurrency project has just been dismantled by authorities, with the embezzled amount reaching about 400 billion VND from tens of thousands of participants nationwide.

According to investigators, the ecosystem called #Xintel led by Nguyen Băng Thảo exploited the social media license of the Xfactor Intelligent project to create a legal cover, then promoted a cryptocurrency called Xin with promises of attractive profits.

This group built a series of platforms such as Xinstar, Xintravel, and Shop Xintel to give the impression of a large-scale technology ecosystem, thereby attracting investors to contribute capital. At the same time, the perpetrators issued approximately 12 billion Xin tokens on the BNB Smart Chain network to attract capital flows. Investigation results show that over 42,000 accounts nationwide participated in this system, with total embezzled funds estimated at around 400 billion VND.

Thanh Hoa Provincial Police have initiated criminal proceedings, detained 18 suspects, and are continuing to expand the investigation to clarify the roles of involved individuals.