Dong Nai police dismantled the Matrix Chain cryptocurrency platform (MTC) that defrauded over 10 trillion VND.

On May 28, 2025, one of the largest cryptocurrency fraud cases in Vietnam was dismantled by the Dong Nai Police, when Nguyen Quoc Hung (41 years old ), Bui Thi Thanh Nga (34 years old ) along with 3 accomplices were arrested in a scheme that embezzled a massive amount of over 10 trillion dong from tens of thousands of investors nationwide.

With over 138,000 registered accounts, the cryptocurrency exchange Matrix Chain (MTC) operated by the criminal group under the guise of "super high profits" has trapped tens of thousands of people. Starting from early 2024, criminal investigators detected unusual signs when MTC continuously attracted massive investments, organized grand events, and built a complex multi-level network across the three regions of North - Central - South.

! Nguyen Quoc Hung (đeo his trang) when he was arrested. Photo: Provided by the Police / Vnexpress! The police took the testimony of Bui Thi Thanh Nga (phải). Photo: Thai Ha

The thrilling journey of solving the case

On May 19, hundreds of police officers from Dong Nai Police coordinated with the Criminal Police Department of the Ministry of Public Security and forces from many provinces to simultaneously raid suspected locations. A large number of documents, electronic devices, and valuable assets related to the case were seized, while the suspects were arrested while attempting to cover their faces.

Nguyễn Quốc Hùng, the mastermind, admitted to hiring a group of anonymous hackers on Telegram to develop the "virtual currency project" MTC for over 20,000 USD. To attract investors, Hùng and his accomplices created a "platform fee wallet" requiring each participant to deposit 1 USDT. The collected funds were intricately divided: 40% paid to regional "Leaders", 5% for promotion, and nearly 55% used to purchase luxury houses, land, and apartments in Hanoi, Bac Ninh, Hoa Binh… under the names of relatives to conceal the trail.

Many cars were seized due to involvement in fraudulent activities. Not only that, Hùng also holds a separate "SafePal" wallet containing about 100 million MTC to intervene in price regulation, creating an illusion of growth to stimulate players to invest money, then suddenly withdrawing everything, appropriating the investors' money.

For nearly 2 years, this ring has gathered over 394 million USDT – equivalent to more than 10 trillion VND – from people across the country. Tens of thousands of investors have found themselves empty-handed when the true nature of the MTC exchange was revealed.

According to the leaders of the Ministry of Public Security, the special case was implemented over nearly 200 days with the participation of hundreds of officers and soldiers, tirelessly monitoring each move of the criminal group day and night. The case is still being urgently expanded for investigation, pursuing accomplices, and recovering assets for the people.

Thạch Sanh