Vietnamese authorities have dismantled a cryptocurrency scam operated by the company Million Smiles, which defrauded approximately $1.17 million from around 400 individuals and 100 businesses. The scheme involved promoting a fictitious token called QFS (Quantum Financial System), falsely promising financial freedom and access to a unique financial ecosystem. The Hanoi City Police intervened before a planned conference intended to recruit over 300 new investors, arresting key individuals and seizing evidence. This action prevented further financial losses and highlighted the need for increased vigilance against unregulated cryptocurrency schemes.