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ToggleNearly 20,000 fraud cases related to crypto assets detected: Hot warning from the Ministry of Public Security
In the forum "Digital Asset Market: From Trend to Breakthrough" , Lieutenant Colonel Nguyen Thanh Chung - representative of the Department of Cyber Security and High-Tech Crime Prevention (A05, Ministry of Public Security) - announced alarming figures on fraud in the field of crypto assets.
According to statistics, in just 5 years (from December 15, 2019 to May 14, 2024), the authorities have discovered nearly 20,000 crypto-asset fraud cases, with more than 17,000 related subjects, causing damage to people and businesses of more than 12,000 billion VND. This figure reflects the complexity and danger of this emerging type of crime.
Why are crypto assets becoming “fertile Shard ” for criminals?
Lieutenant Colonel Nguyen Thanh Chung said that crypto assets are not only used to illegally raise Capital , but are also exploited to launder money through anonymous transactions on international exchanges. In addition, many networks also use legal loopholes to conduct illegal financial activities, directly affecting national security, losing tax revenue and making it more difficult for the State Bank and the Government to manage the macro-economy.
The lack of a clear legal framework, combined with the "get rich quick" mentality, has caused many people to become victims of virtual investment scams, typically Ponzi schemes, fake ICOs or "ghost" exchanges.
The representative of the Ministry of Public Security emphasized that Resolution 05 and the upcoming Law on Digital Technology Industry will be an important legal basis to help strengthen the ability to fight and prevent technology crimes. One of the key solutions is to encourage people to only trade crypto assets on licensed exchanges, in order to protect legitimate rights when disputes arise, while improving the effectiveness of anti-money laundering and anti-terrorism financing work.
Message for investors
Experts warn that, to avoid falling into the trap, investors need to:
Verify project information carefully before paying.
Trade only on licensed and reputable exchanges.
Don't believe in promises of "huge" profits in a short time.
Equip yourself with basic knowledge of digital finance and regularly update warnings from authorities.
The development of crypto assets is inevitable, but it also comes with major challenges in cybersecurity and financial management. Investors need to be alert to seize opportunities, while avoiding risks from increasingly sophisticated scams.
