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Vietnamese police have detained 59 people associated with the cryptocurrency gambling ring, which is believed to be the city’s largest illegal online gambling ring. The total transaction value is over $ 3.8 billion and does not include mutual funding from dealers.
The suspect confiscated the item after admitting police involvement in organizing an online gambling site. According to state media on December 3, these items include 40 laptops, 79 mobile phones, ATM cards, luxury cars, and over 2.9 billion dong ($ 130,000) in cash. ..
Ho Chi Minh City police said they were fascinated by luxury cars and insurance packages that guarantee refunds if players lose six games.
Gamblers were asked to buy cryptocurrencies such as Ethereum and USDT (also known as tether) from the crypto market called Remitano before betting on websites such as Swiftonline and Nagaclubs.com.
The platform organizer receives a fee from the platform to bring in new players, but as more players join the gambling site, the organizer intentionally crashes the website and pays money from the digital wallet. Steal. These platforms are said to be the intermediaries of Evolution.com, an international gambling site.
All forms of online gambling are banned in Vietnam. There are several licensed casinos in Vietnam, but gambling is restricted to foreign passport holders.
Last year, police arrested illegal online gambling on a site named “No Hu,” with an estimated transaction value of $ 2.6 billion. Meanwhile, in 2019, more than 380 Chinese were arrested for operating an online gambling platform in Vietnam.
Meanwhile, Evolution Gaming, a subsidiary of Swedish gaming company Evolution AB, has been linked to Vietnam’s illegal online gambling ring and is currently subject to regulatory complaints in New Jersey.
The company has also been accused of operating in a country where gambling is banned, which Evolution strongly denies.
Evolution AB reportedly lost about $ 3 billion in market value on November 17, and its stock rose 62% this year to $ 33 billion, then fell 9% in the morning trading. bottom.
An Evolution spokesman said the company adheres to all applicable laws and regulations and “is free to use to prevent play from certain countries, including all countries on the sanctions list. Use all the tools. “
He added that the company is not involved in the direct relationship with the underlying player or the handling of the player’s money and does not own or control the partner operator.
Reuters contributed to this report.
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