Ho Chi Minh City police announced the takedown of a sophisticated transnational cyber fraud ring led by Chinese nationals and supported by local Vietnamese collaborators on April 29. The group posed as operators of a convenience store while orchestrating online scams that targeted Japanese victims.
The investigation began on April 15 when authorities from Phuoc Long B Ward and the HCMC Police Department conducted an administrative inspection of the "Viet Hoa" convenience store in Thu Duc City. They discovered 33 individuals (31 Chinese nationals and two Vietnamese) engaging in suspicious activity on the upper floors of a three-story building. The operation involved a range of electronic devices including smartphones, tablets, and desktop computers.
From January to April 2025, 30 Chinese nationals had entered Vietnam through multiple border checkpoints before settling in Ho Chi Minh City. The group was housed in various apartments rented by Xing Yannank, 35, Chinese national, who also orchestrated the scam.
Operating daily out of the Khang Dien residential area in Phuoc Long B Ward, the ground floor masked as a storefront, the group targeted Japanese citizens via social media. They lured victims into using a fake e-commerce site, Otto.changyilp.com, which offered discounted goods and high commissions.
Once the victims agreed to make purchases, they were instructed to transfer payments—often in cryptocurrency (USDT) or Japanese yen—into designated wallets. After payment, the scammers would cut off all communication and seize the funds.
The group also promoted fake crypto investment opportunities, urging victims to convert Japanese yen into USDT and deposit into specified wallets to invest in ANT tokens, promising returns of 20 percent, 30 percent, or even 40 percent. These transactions were part of a larger deception scheme, after which the scammers vanished with the funds.
All stolen assets were managed by Xing Yannank. Other members were paid monthly salaries ranging from VND35 million to VND50 million, along with commission bonuses of 3 percent to 12 percent based on the total amount defrauded.
Police conducted searches at six locations, seizing 147 phones, 40 computers, and a bag containing over 0.4 grams of narcotics. From February 25 to April 14, the group allegedly stole 486,615.24 USDT—equivalent to about VND12 billion—from Japanese victims. Authorities have so far confirmed at least 38,850.5 USDT (around VND1 billion) was transferred directly to Xing Yannank and are continuing to expand the investigation.
