After raising some 660 million dollars, Modern Tech JSC, which posed as the official representative of ifan and pincoin in Vietnam, emptied its offices and disappeared.
The crime was committed by Modern Tech JSC, based in Ho Chi Minh (former Saigon), which offered monthly interest of up to 48 percent to investors in ifan and pincoin, according to the Vietnamese newspaper Tuoi Tre.
The minimum investment established by the company was 1,000 dollars (811 euros). After raising about 660 million dollars, Modern Tech JSC, which posed as the official representative of ifan and pincoin in Vietnam, emptied its offices and disappeared.
The scandal erupted last week, when dozens of investors demonstrated at the headquarters of Modern Tech JSC to denounce the fraud and claim their money.
At the beginning of the year, the Japanese exchange house Concheck was robbed of the NEM cryptocurrency system for about 58,000 million yen (430 million euros or 534 million dollars).
In 2014, Mt.Gox, once the largest exchange house for the cryptocurrency, went bankrupt following the disappearance of hundreds of millions of dollars in bitcoins for a supposed embezzlement committed by its owner, Mark Karpeles.