Crypto Scam Alert: Vietnam Police Bust Massive $394M Matrix Chain Fraud Ring
Written by Ohris M. Greyoon, Blockchain & Crypto Expert
Vietnam Police Action: Authorities in Vietnam have arrested five suspects linked to the Matrix Chain scam, which defrauded over 185,000 investors of approximately $394 million through a pyramid scheme disguised as a cryptocurrency investment opportunity.
Risks and Prevention: The case highlights the prevalence of crypto scams, particularly in regions with high adoption and lack of regulation, emphasizing the importance of vigilance, education, and recognizing red flags to avoid falling victim to similar fraudulent schemes.
About the author
Ohris M. Greyoon
Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.
