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Police in Vietnam recently busted an unprecedented online gambling ring, that has been named the biggest gambling bust in Vietnamese history. Authorities revealed the fraudulent scheme to be worth more than $3.8 billion.
Apart from the 59 detainees, the bust also led to 55 confiscated computers, 39 mobiles phones, 7 luxury cars, a whole bunch of ATM cards, and hard cash worth $130 000.
Police report of a country-wide network of crypto gambling that was part of the scam. Participants of the rings were able to purchase crypto coins through Remitano- a foreign crypto platform. Officials commented that the only way to participate was by buying-in with crypto coins.
The perps have already admitted to being a part of the organization, while Evolution.com has been revealed to be the main site in which all of the actual gambling had taken place. In other words, the platforms that were used in organizing the schemes were intermediaries of Evoluion.com. Local Vietnamese organizers, undoubtedly part of the gambling site, had been receiving commissions from the platforms. It was reported, that they even crashed the websites to steal funds from a crypto wallet in the aftermath of the crash.
Currently, the Vietnamese government has a tight control over betting. Some more lose betting activities and certain sports bets are allowed, but full-out online gambling is absolutely prohibited.