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It was headed by Tran Vu Toan, 34, of Ho Chi Minh City, who ran an illegal gambling website in the central province of Nghe An, where he was arrested last week, the local police said Thursday.
His henchmen are aged between 21 and 42.
Toan earlier this year launched the website with a server based in another country that allowed people to bet on whether the cryptocurrency would rise or fall in the next 30 seconds. They would win 95% of the stake or lose everything.
Toan and his accomplices often posted photos of themselves riding in luxury cars or shopping at premium stores to attract gamblers.
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Five luxury cars belonging to members of the gambling ring were confiscated by the police. Photo by VnExpress/Hoa Vang |
They operated in 10 localities across the country, including in Hanoi and HCMC.
The police confiscated five Mercedes, Bentley and Porsche cars from the gang and evidence of its operations.
In nine months since it began operating it chalked up around $10 million worth of transactions, they said.
They are investigating further.
