SCAMMED OUT OF 1.5 BILLION VND BUYING USDT OTC
This case has been making the rounds over the past few days. According to the victim, the group initially made seven ordinary OTC trades with them to build trust, involving amounts ranging from 30 to 500 million VND. But there was one detail: they insisted that the victim create a new imToken wallet in the car and use that wallet to receive the money.
A camera had been secretly installed in the car to record the 12-word seed phrase used to recover the wallet. On July 7, after the young man handed over 1.5 billion VND in cash and received more than 60,493 USDT, all the USDT in the wallet was transferred out to another wallet. The cash had also been taken away.
The victim later tracked them down to Nha Trang and, together with two witnesses, detained someone accused of being involved and handed them over to the police. This person reportedly admitted to installing a hidden recording device to obtain the 12-word recovery phrase. Their conversation was recorded, but the person was later released into their family’s custody because there was “insufficient evidence to prosecute.”
For now, this case consists only of allegations from one side, and there has been no final conclusion, so we’ll have to wait and see what the authorities find.
But if you often buy or sell USDT OTC, be careful. Recently, the Ministry of Public Security also mentioned USDT black markets in connection with major money-laundering cases, with some trading hubs handling $7–10 million a day. USDT is increasingly being used to move funds quickly across multiple wallets and countries, making them harder to trace. When dealing with large sums, just split them into smaller P2P transactions to stay safe.
This case has been making the rounds over the past few days. According to the victim, the group initially made seven ordinary OTC trades with them to build trust, involving amounts ranging from 30 to 500 million VND. But there was one detail: they insisted that the victim create a new imToken wallet in the car and use that wallet to receive the money.
A camera had been secretly installed in the car to record the 12-word seed phrase used to recover the wallet. On July 7, after the young man handed over 1.5 billion VND in cash and received more than 60,493 USDT, all the USDT in the wallet was transferred out to another wallet. The cash had also been taken away.
The victim later tracked them down to Nha Trang and, together with two witnesses, detained someone accused of being involved and handed them over to the police. This person reportedly admitted to installing a hidden recording device to obtain the 12-word recovery phrase. Their conversation was recorded, but the person was later released into their family’s custody because there was “insufficient evidence to prosecute.”
For now, this case consists only of allegations from one side, and there has been no final conclusion, so we’ll have to wait and see what the authorities find.
But if you often buy or sell USDT OTC, be careful. Recently, the Ministry of Public Security also mentioned USDT black markets in connection with major money-laundering cases, with some trading hubs handling $7–10 million a day. USDT is increasingly being used to move funds quickly across multiple wallets and countries, making them harder to trace. When dealing with large sums, just split them into smaller P2P transactions to stay safe.