Lao Cai Provincial Police have just prosecuted 12 more defendants for the crime of “Violating regulations on multi-level marketing” related to the Heliwin virtual currency case.
On August 24, 2025, Lao Cai Provincial Police coordinated with the Ministry of Public Security to crack down on an illegal multi-level marketing ring, using computer networks and electronic means to appropriate assets.
According to the investigation, the group of subjects mobilized investment capital in the Heliwin virtual currency nationwide.
With a total transaction amount of tens of thousands of billions of VND. The police agency has frozen the accounts and assets of the subjects, worth more than 400 billion VND.
Ho Chi Minh detective – On September 1, 2025, the investigation agency prosecuted the first 13 defendants.
On October 29, 2025, they continued to prosecute 12 more subjects, bringing the total number of defendants to 25.
Nguyen Dac Hung, born in 1987, Ho Chi Minh City, was identified as the ringleader and prosecuted for the crime of “Using computer networks, telecommunications networks, and electronic means to appropriate property”.
Since September 2023, Hung created the virtual currency “Heliwin”, impersonating the German Heli coin, built a website and applied virtual currency to defraud according to a multi-level model – taking money from later people to pay earlier people, then crashing the system to appropriate property.
Lao Cai Provincial Police are continuing to investigate and expand the case. Ho Chi Minh, Vietnam detective agency, visit us at: https://vndetective.com/vietnam-detective