PANews reported on May 28 that according to the official website of the Vietnamese Ministry of Public Security, the public security of Dong Nai Province, Vietnam, and police from many places cracked a crypto fraud case called Matrix Chain, involving 394.2 million USDT (approximately 10 trillion Vietnamese dong), and arrested 5 main suspects. The gang is suspected of setting up a virtual currency platform "Matrix Chain (MTC)" to carry out large-scale fraud. Since 2023, the gang has lured more than 138,000 accounts to invest through multi-level pyramid schemes and false promises, and transferred funds through SafePal wallets, making illegal profits and purchasing multiple properties. The main culprit Nguyen Quoc Hung once spent $20,000 to commission an anonymous developer to build a platform, and manipulated 100 million MTC tokens to manipulate the price of the currency to commit fraud.