56 crypto scammers arrested in Cambodia, Vietnam

HANOI: Nearly 60 people working in a crypto fraud ring that stole millions of dollars from Vietnamese nationals have been arrested in Cambodia and Vietnam, Vietnamese state media said Thursday, citing police.

Online scam operations have ballooned in Southeast Asia in recent years, with transnational criminal organisations often trafficking and forcing thousands of people to swindle their compatriots in an industry analysts say is worth billions of dollars annually. Cyberscam rings often lure people from the region with promises of high-paying jobs but then effectively hold them hostage and force them to commit online fraud.