CASINO WORLD NEWS Vietnam uncovers $3.8B illegal cryptogambling ring; 59 people arrested 1 year ago Szarlot Post Views: 418 Vietnam’s Ho Chi Minh City police have detained 59 people linked to the biggest illegal online gambling ring ever uncovered by Vietnamese authorities. The cryptocurrency gambling ring had transactions totaling more than US$3.8 billion, which includes the total gamblers put in the ring but excludes reciprocal money from the dealer. According to the report from state-owned broadcaster VTV, gamblers in the ring registered cryptocurrency wallets on a foreign platform called Remitano to buy cryptocurrencies such as Ethereum or USDT, also known as Tether, they would then use the crypto to gamble on websites Swiftonline.live and Nagaclubs.com. Subjects admitted to authorities that they organized online gambling on those sites, which VTV reported were intermediaries to Evolution to earn commissions. When there were a large number of players, they crashed the websites in order to appropriate money from the digital wallets, the report said. “This is a case of clear abuse of the Evolution brand,” – Carl Linton, head of investor relations at Evolution told Bloomberg. “The sites mentioned in the article are not customers of Evolution and our games are not accessible through these sites. We take this situation very seriously, the aggregator connected to these sites has been identified and notified to take immediate action towards their customer and we reserve the right to make sure that our demands are fully enforced.” Ho Chi Minh City Police also detained items including 40 laptops, 79 cellphones, ATM cards, vehicles, and cash worth more than 2.9 billion dong (US$130,000), according to Bloomberg. Fraudulent activity is one of the main concerns about cryptocurrencies from regulators globally, in particular, because many participants can transact across country borders and act with a relative degree of anonymity. Crypto-linked fraud is costing victims around the globe billions of dollars annually. Source: yogonet.com About Post Author Szarlot I am a fan of casino games especially roulette and blackjack. After that I analyze current events in the gambling industry. See author's posts SzarlotI am a fan of casino games especially roulette and blackjack. After that I analyze current events in the gambling industry. Facebook Twitter LinkedIn Email Print Tags: cryptocurrencies, Evolution, Wietnam Continue Reading Previous Super Spade Games continues global growth with ParimatchNext Playtech unveils new state Live Casino studio in Zürich for Swiss Casinos More Stories EXPERTS WORLD NEWS What does the UK’s involvement look like in African business today? 8 hours ago Szarlot CASINO WORLD NEWS Novomatic to debut its NOVOVISION CMS at GAT Expo in Cartagena 2 days ago Iwo Bulski EXPERTS WORLD NEWS Record 2022 numbers for Playtech 5 days ago Iwo Bulski CASINO How Do You Figure Out If a Slot Machine Will Win? 6 days ago Szarlot CASINO SOUTH AFRICA Where in the world are the most luxury casino destinations? 6 days ago Szarlot ONLINE WORLD NEWS TVBET enters distribution agreement with Golden Matrix Group 1 week ago Iwo Bulski CASINO ZIMBABWE Zimbabwe: Man killed at a gambling table 1 week ago Samuel ONLINE WORLD NEWS Slotegrator expands into Greece, Romania, and more with 1X2 Network 1 week ago Iwo Bulski CASINO SOUTH AFRICA Sun International bets big on gambling growth 1 week ago Iwo Bulski ONLINE WORLD NEWS Pragmatic Play to exhibit as Premium sponsor in GAT Expo Cartagena 2 weeks ago Iwo Bulski ONLINE WORLD NEWS Slotegrator partners with Panga Games 2 weeks ago Iwo Bulski CASINO SOUTH AFRICA Sun International on a roll as gamblers spend big after pandemic 2 weeks ago Samuel 1 thought on “Vietnam uncovers $3.8B illegal cryptogambling ring; 59 people arrested” Tam to sie dopiero grubo gra Reply Leave a Reply Cancel replyYour email address will not be published. Required fields are marked *Comment * Name * Email * Website Save my name, email, and website in this browser for the next time I comment. Δ This site uses Akismet to reduce spam. Learn how your comment data is processed.