Vietnam’s Competition and Consumer Protection Department has issued fraud warnings against Crowd1 and OneLink.
The CCPD has observed Crowd1 and OneLink being promoted across social media networks in Vietnam.
The regulator warns that both companies are “not in compliance with the law”.
“The Department of Competition and Consumer Protection assessed that the operational models of (Crowd1 & OneLink) showed signs of pyramid investment and prohibited acts under the current regulations”, (a) Department representative said.
In order to avoid physical and legal risks, the Competition and Consumer Protection Department also issued a warning to people not to invest, or develop business systems into the projects with (Crowd1 and OneLink).
Crowd1 is a European scam that up until recently was primarily promoted across Africa. The Ponzi scheme has received regulatory warnings from multiple countries.
OneLink is a Ponzi scheme created by former OneCoin Master Distributor Simon Le.
Vitae, not to be confused with Vitae Global, also gets a mention. Vitae is run by serial-scammer Michael Weber and markets Vitae token Ponzi points.
At the time of publication Alexa cites Vietnam as the second largest source of traffic to Vitae’s website.