[2018-04-10] Vietnam: Pincoin, Ifan ICOs Exposed As Scams

[maarx]

Vietnam: Pincoin, Ifan ICOs Exposed As Scams That Allegedly Stole $660 Million


Operators of two Initial Coin Offerings (ICOs) have gone silent after multiple reports revealed them to be scams that had conned an estimated 32,000 investors of an alleged $660 million in tokens, local news outlet Tuoi Tre News reported Monday, April 9.

Ifan and Pincoin, cryptocurrency startups purportedly from Singapore and Dubai respectively, were allegedly multi-level marketing ponzi schemes under the control of Vietnam-based outfit Modern Tech.

Having gathered what victims claim runs to 15 trln Vietnamese dong (about $660 mln) in token sales, a lack of hard currency payouts prompted a demonstration outside Modern Tech’s Ho Chi Minh City headquarters April 8. If the claim is proven true, the scam would be the largest in the crypto industry to date.

https://cointelegraph.com/news/vietnam-pincoin-ifan-icos-exposed-as-scams-that-allegedly-stole-660-million

What steps can be taken on such ICOs?

[1715604226]

1715604226

[1715604226]

1715604226

[1715604226]

1715604226

[Mvduu]

before this Scams, the community vietnam's facebook always told keep away but the interesting is: they loved profit and just follows the crowd without knowledge enough about crypto. that's cause vietnam's markets is the best for cheating, scamming, i think so because i'm vietnamese too