Authorities have arrested four individuals linked to a fraudulent cryptocurrency platform named BitMiner, which operated under a Singapore domain. The scam targeted over 200 individuals in southern Vietnam, enticing them into purchasing fake Bitcoin, resulting in victims collectively losing 4 billion VND, equivalent to approximately 157,300 USD.

The perpetrators misled victims by claiming their operations were based in Dubai, offering enticing benefits to lure investors. They promised HIGH returns on investments and utilized deceptive advertising strategies. Various investment packages with names like Red Diamond, Blue Diamond, Diamond Gold, Black Diamond, and Green Diamond were offered, adding a semblance of legitimacy.

In the investigation led by local authorities, Tran Minh Quang and three accomplices were identified and apprehended for their involvement in the fraudulent activities in Dong Nai Province. Collaborators were recruited to further the scam, distributing materials and manipulating trading accounts to mislead investors into believing in the authenticity of the operations.