Vietnam Uncovers $394M Matrix Chain Crypto Scam, Arrests Made

Written by Ohris M. Greyoon, Blockchain & Crypto Expert

Source: Coinmarketcap

Updated: May 28 2025

Should l Buy SFP?

Vietnamese Crypto Scam Arrests: Vietnamese authorities arrested five individuals involved in the Matrix Chain crypto scam, which defrauded over 138,000 investors of $394.2 million through pyramid schemes and manipulated token sales.
Regulatory Concerns: The scam highlights the need for stricter regulations and security measures in the cryptocurrency sector to prevent similar fraudulent activities, as the Ministry of Public Security warns against ongoing criminal tactics in the digital currency market.

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Technical Analysis for SFP

Technical Sentiment Analysis for SafePal (SFP). As of , SafePal (SFP) is exhibiting a Buy technical sentiment. Our proprietary analysis, which aggregates 8 technical signals, shows that 5 indicators are flashing buy, while 3 are indicating sell.

Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for SFP stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.

Support, Resistance & Moving Averages. From a structural perspective, SFP is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.

SafePal (SFP) Support & Resistance Level

Name	S3	S2	S1	Pivot Points	R1	R2	R3
Classic	0.233	0.252	0.27	0.29	0.307	0.327	0.345
Fibonacci	0.252	0.266	0.275	0.29	0.304	0.313	0.327

About SFP

SafePal is a cryptocurrency wallet launched in 2018 that helps users to protect and grow their digital assets. SafePal provides hardware and software wallets, all paired and managed through the SafePal App and was the first hardware wallet invested in and backed by Binance.SafePal wallet supports numerous popular crypto-assets, in addition to popular tokens on the Ethereum, Binance Smart Chain (BSC) and TRON blockchains. Users can store, manage, swap, trade and grow their portfolio without compromising asset security, according to SafePal.Since its launch in 2018, SafePal has grown exponentially and has over 3,000,000 users in 196 countries globally. More information can be found in the SafePal Official Website.

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.

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