A mass crypto crackdown in Southeast Asia has seen 56 alleged scammers detained in Cambodia and Vietnam, reported state media outlets. The arrest was in connection with a spike in the trend of crimes relating to cryptocurrency use in the area.
Vietnamese authorities confirmed that 26 persons were arrested as they tried to enter the country through airports. The other suspects were rounded up in Cambodia, where many fraudulent crypto operations have been running under the radar.
Prosecutors revealed that the suspects were implicated to have engaged in heavily complex web scams, bilking their targets with scam investments and forged online trading. Agencies are currently tracking down henchmen and reclaiming illicit assets.
Governments of Vietnam and Cambodia have stepped up their campaigns against digital financial fraud, calling upon citizens to guard themselves against counterfeit investment schemes. Authorities caution that the spike in crypto-related scams is a strong threat to naively unsuspecting investors.
