Recently, many Vietnamese artists post advertisements for a virtual currency that is said to be of a virtual currency multi-level exchange that investors need to be extremely cautious and vigilant about.
Recently, many Vietnamese artists post advertisements for a virtual currency that is said to be of a virtual currency multi-level exchange that investors need to be extremely cautious and vigilant about.
Popular form of virtual currency today. Yesterday, May 11 can be seen as a virtual currency day when a series of anonymous and worthless coins are pumped by a stream of billionaire Mark Zuckerberg’s status. In the afternoon of the same day, the virtual currency fever began to spread rapidly in Vietnam when many Vietnamese artists posted the same status, alluding to this AquaGoat, Shiba Inu fever. Virtual money hiding multi-level ball. Virtual money or electronic money (cryptocurrency) has always been a “hot” issue since Bitcoin exploded in value around the second half of 2017 until now. The value of this coin has increased many times to more than 57,000 USD (as of the morning of December 12, 2121). Recently, many other virtual currencies also appeared and “followed” this trend, fluctuations and statements of famous people. Elon Musk – billionaire owner of Telsa company not long ago made statements that made Dogecoin virtual currency soar. In Vietnam, virtual money is also causing certain “investment fever” from amateur players. Recently, many Vietnamese celebs such as Ngoc Trinh, Kieu Minh Tuan, Nam Thu, Le Duong Bao Lam … suddenly posted status on personal Facebook pages related to this topic. “Underwear Queen” Ngoc Trinh seems to be more enthusiastic when posting 4 different statuses around virtual currency investment one day. She also showed off a photo of an account with more than 186 Bitcoin (BTC), with a school value at that time was more than 55,000 USD / BTC, Ngoc Trinh’s account exceeded 10 million USD, a number that can be called “impossible”. However, many people later claimed that the account was fake, not owned by her. 
The virtual money trap hits human greed. FXT is a multi-level virtual currency used by Lion Group (or Lion Team, Lion Community) to entice investors with huge commitment to profits. This incident has been City Police. Da Nang issued a warning from the beginning of February. Accordingly, Lion Group’s operations do not comply with the law, investors who lose money will not be protected by the law. About a week ago, press agencies began to reflect on the corruption and fraud of the Lion Group. A few days ago, Lion Group’s multi-level exchange disabled participants’ ability to withdraw money. That is, FXT buyers are now holding a pile of insolvent, worthless cryptocurrencies. It is worth mentioning that despite being warned in a recent week, Lion Group still hired artists to advertise for FXT in order to get the best shot. On virtual money groups, Vietnamese investors are frustrated because some artists disregard everything to make a profit based on the lack of understanding of a large part of the population. 
Virtual money always lurks in many different forms. Virtual money, virtual name but losing money is real. Investor Eric Vuong rated the artists’ actions as’ crime, murder without knives’. “You should only invest in coins when you know the nature of the model, or you can accept the risk of losing all the money involved,” he stressed. According to experts, the hallmark of multi-level virtual currencies is commitment of huge profits, loss covers, account fire protection, mostly only traded on small exchanges, newly established exchanges with traffic. Access mainly comes from Vietnam. These currencies usually have no information about the development team, blockchain, whitepaper or if any is fake. In this incident, the type of Forex (Foreign Exchange Market) cryptocurrency was not licensed in Vietnam. So when receiving “advertising contracts”, artists need to find out clearly to avoid breaking the law./.
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