In a turn of events most unladylike, the authorities of Phu Tho Province have laid bare a network that lured a multitude of investors, both local and foreign, quite like a siren’s song, through a false platform disguised as a highly commercial multilevel marketing enterprise. One might say it was a scheme that would make even the most seasoned of deceivers blush!
These dupes were sweet-talked with promises of monthly gains reaching up to 9%, along with bonuses for those who involved others-funded entirely by the new influx of naïve souls. Truly, a pyramid-though not the sort you see in a historic garden, but one constructed by greed and guile.
At the heart of this amusing tragedy was Nguyen Van Ha, aged 45 from Gia Lai Province-who, despite lacking the most basic credentials in information technology, fancied himself a man of immense cleverness. He hired others to conjure up the PAYN blockchain, craft a rewards system, and even fashion a security scheme so charmingly convincing that investors might have thought it the work of angels. One wonders if these proficiently designed charms were more effective than the genuine articles, given the swindle’s scale!
To add an alluring touch of legitimacy, this charming rogue declared his platform to be registered in the United States and, in a clever twist, claimed it could be used for travel arrangements-an audacious lie yet effective enough to attract the unsuspecting. Extravagant galas at opulent locations were staged to bolster confidence, though little more than glitter concealed the treacherous depths beneath.
Meanwhile, Mr. Ha, of whom it was said he personally amassed a staggering sum of around $200 million, had the assistance of his second in command-Mr. Phan Viet Lap-and others, all eager to share in the spoils of this most unfortunate venture.
More than twenty suspects have been apprehended, and the authorities, in their wisdom, have seized assets worth approximately $38 million-including cash, foreign currencies, and property. Interestingly, even as the scheme was exposed, it continued to attract funds from distant lands such as India and the Philippines-like a stubborn weed in a well-tilled garden.
This episode adds yet another chapter of woe to a year rife with crypto calamities. Data from CertiK reveals that hacks, scams, and exploitations have amassed losses of approximately $2.47 billion worldwide in the first half of 2025-evidence of the digital wild west’s perilous landscape.
Note: The contents herein are for informational purposes only and should not be mistaken for authentic financial advice. Coindoo.com does not endorse any particular investment or cryptocurrency strategy. Do conduct your own enquiries and consult a licensed financial advisor before embarking upon any such venture.
Read More
- Violence District Killer and Survivor Tier List
- All Data Pad Locations (Week 1) Destiny 2
- One Piece Chapter 1158 Preview: The God Valley Incident Edges Closer
- Top 8 UFC 5 Perks Every Fighter Should Use
- Unleash Devastation: Top Rupture Teams to Dominate in Limbus Company!
- When is the Nintendo Switch 2 Pre-order Date?
- ETH PREDICTION. ETH cryptocurrency
- The 20 Best Real-Time Strategy (RTS) Games To Wishlist In 2025
- How to Farm XP in Battlefield 2042 (2025)
- Valheim Player Spends 20 Months Building Middle-earth in the Game
2025-08-14 21:53