Vietnamese police have cracked down on the Matrix Chain encryption eyewash, involving nearly 400 million dollars.

GateNews

2025-05-28 09:48:46

Gate News bot message, the Vietnamese police successfully dismantled a large-scale Crypto Assets fraud case. The gang involved carried out the fraud through the “Matrix Chain” project, with the amount involved reaching nearly 400 million USD.

The gang established a multi-level marketing system in three regions of Vietnam, enticing investors to download the Matrix Chain software for a low fee of 1 USDT. Investigations show that the gang has registered over 185,000 accounts and illegally transferred approximately 394.2 million USDT. Currently, the police have arrested 5 suspects (including 4 men and 1 woman, aged between 1980 and 1991) and have conducted searches at their residences and workplaces.

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