Authorities said 61 suspects have been arrested in connection with the operation, which was allegedly run from Cambodia using highly organised methods and scripted online scams.
According to investigators, the group illegally collected personal information of women across the country before approaching them through social media platforms. The suspects reportedly used pre-prepared scripts, phone calls and online chats to build trust with victims over time.
After gaining the victims’ confidence, the group persuaded them to invest in cryptocurrency and foreign exchange trading through fake websites designed to appear professional, including “cme-trading.online” and “cmetradingvn.com”.
Police said the scammers initially generated fake profits to convince victims the investments were successful. Once victims transferred larger amounts of money, the group allegedly appropriated the funds.
Investigators believed the network defrauded hundreds of victims nationwide, with estimated illicit gains exceeding VND3 trillion (about US$118 million) annually. In one case in Quang Tri alone, a woman reportedly lost more than VND2.7 billion.
The investigation involved coordination between Quang Tri police and law enforcement units from multiple provinces. Authorities formed eight task forces to track and detain suspects as they re-entered Vietnam from Cambodia.
The suspects allegedly held different roles within the organisation, including management, translation for Chinese operators, data screening, social media account provision, SIM card procurement and money transfer operations.
Police have officially charged all 61 suspects with “fraudulent appropriation of property” under Vietnam’s Criminal Code. They said the investigation is continuing to identify additional individuals linked to the network.
