Vietnamese ICO scammers disappear with $660 million

32,000 folks “invested” $660 million in an preliminary coin providing (ICO) for a token referred to as Pincoin. Now, the seven seven Vietnamese nationals behind the unregulated ICO, which operated as a ponzi scheme, are nowhere to be discovered.

From Tuoi Tre News:

Investors have been instructed that they might take pleasure in a revenue charge of 48 % a month from their preliminary funding, and recoup all investments after 4 months. People would even be rewarded with an eight % fee for each new member they’ve launched to the community.

It has been alleged that some 32,000 folks had been duped into pouring cash into the Ifan and Pincoin tasks, that are in actual fact a multilevel advertising scheme, the place older traders are paid with income generated by new traders.



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