As 2025 begins, law enforcement agencies around the world are targeting rising cryptocurrency and AI-related scams, leading to significant arrests and crackdowns across multiple regions.
On January 5th, Vietnamese police arrested four individuals involved in a cryptocurrency mining scam that defrauded over 200 victims, resulting in a loss of 4 billion Vietnamese dong (roughly $157,300). The operation was led by Tran Minh Quang, who, along with his associates, developed a fraudulent crypto-mining website called BitMiner. The site, operating under a Singapore domain, misled investors by advertising itself as a Dubai-based crypto-mining company and promising unrealistic returns.
The scammers offered dubious mining packages and educational materials to victims, which contributed to the widespread fraud. Following the investigation, Vietnamese authorities arrested the group responsible for the fraudulent operation.
Meanwhile, the Springfield, Massachusetts, police have issued a warning to local residents regarding the increase in cryptocurrency-related scams, particularly emphasizing the rising issue of crypto ATM fraud. The alert highlighted various scams but placed particular focus on how criminals exploit crypto ATMs to deceive users.
On the same day, Hong Kong authorities took action against a massive AI-related fraud operation, arresting 31 people, mostly university students, involved in using deepfake technology to defraud victims worldwide. The criminals stole 34 million Hong Kong dollars (about $4.37 million) by targeting individuals in Taiwan, Singapore, Malaysia, and the United States.
The Hong Kong Commercial Crime Bureau seized 10 million Hong Kong dollars’ worth of cash, luxury handbags, and watches during raids at two locations. These operations signal a growing global concern regarding the increasing financial damage caused by both cryptocurrency and AI scams. Law enforcement agencies continue to urge the public to be vigilant and report suspicious activity.