DA NANG – CRACKDOWN ON A MULTI-LEVEL DONG FRAUD AND MISAPPROPRIATION SCHEME INVOLVING CRYPTOCURRENCY AND MULTI-LEVEL MARKETING. Acting on the orders of the Minister of Public Security regarding the implementation of a high-intensity campaign to combat and suppress crime, the Da Nang City Police have successfully dismantled a criminal ring, arresting a group of individuals involved in high-tech crimes to embezzle assets through fraudulent multi-level marketing schemes using virtual currency. This operation was complex, nationwide, and involved an exceptionally large amount of money. Accordingly, on December 15th, the Da Nang City Police, in coordination with the Cyber ​​Security and High-Tech Crime Prevention Department of the Ministry of Public Security and the Da Nang City People's Procuracy, deployed forces, equipment, and operational measures to arrest 8 suspects in the case, including the ringleader Huynh Duc Van (33 years old, residing in Hoa Cuong Ward, Da Nang City). Initial investigations revealed that: Around the beginning of 2020, Huynh Duc Van colluded and discussed the Chia of tasks with three individuals in Ho Chi Minh City and many others to create a "phantom" project involving a private cryptocurrency called "DRK," then promoted it through various false information on social media to lure many people into participating in order to embezzle the assets of investors. After luring many investors to participate by the end of 2021, the perpetrators decided to shut down the DRK project, deleting the website, fan page, and related groups in order to seize all the investors' money, which they then sold for Vietnamese currency to spend on personal expenses. Based on information, documents, and electronic data obtained during the investigation, it was determined that the suspects had embezzled cryptocurrencies from investors, including over 1880 BTC, over 37,000 ETH , and nearly 2.7 million USDT (equivalent to approximately 2 trillion VND in 2021). Through the implementation of legal procedures, the Police Investigation Agency has temporarily suspended transactions on bank accounts and related real estate worth over 600 billion VND. Currently, a criminal case has been initiated, charges have been filed, and Huynh Duc Van and 7 related individuals have been temporarily detained. The police are urging all individuals involved in the incident to surrender quickly in order to benefit from the leniency policies of the law. Following the above incident, the Da Nang City Police Department announces that anyone who has been a victim of Huynh Duc Van and his accomplices should come to the Office of the Criminal Investigation Agency of the Da Nang City Police Department (address: 47 Ly Tu Trong Street, Hai Chau Ward, Da Nang City) to report and resolve the matter according to the law.