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Bitget Launches Campaign in Vietnam to Warn of Cryptocurrency Scams and Risks
Bitget will launch a social project in Vietnam that aims to educate people on how to use cryptocurrencies safely and prevent fraud through eye-catching and understandable posters and banners.
These educational materials, which will provide tips on how to spot and avoid cryptocurrency scams, will be displayed in public spaces such as bus stops, subways, and street billboards.
According to a report by payment platform Triple-A, around 21.2% of Vietnam’s population owns cryptocurrencies, second only to the United Arab Emirates at 34.4%.
However, the level of awareness about the risks associated with digital assets remains much lower than the general knowledge about cryptocurrencies in the country. This gap has led to an increase in financial losses due to fraud, especially among vulnerable groups. In 2023 alone, cryptocurrency investment fraud resulted in losses of approximately $3.94 billion, a significant increase of 53% compared to the previous year.
Data indicates that most of the victims of investment scams were over the age of 30.
The number of complaints from people over 60 is notable, particularly vulnerable due to limited access to timely and clear information.
As the third most populous country in Southeast Asia, Vietnam shares the same alarming trends with other countries in the region when it comes to digital asset extortion.
A 2023 report published by the United Nations Human Rights Office shows that the region is plagued by cryptocurrency romance investment scams and illegal gambling fraud. According to the report, the Covid-19 pandemic and related response measures have had a drastic impact on illicit activity across the region. But the most devastating fact about this phenomenon is that it actually has more than one group of victims.
Gracy Chen, CEO of Bitget, said: “Along with the advancement of technologies, the cryptocurrency market has faced several pressing issues that have challenged many aspects of social, economic and cultural life. One of the key tools for engaging the public and raising awareness, including among vulnerable groups, is social advertising. This format has proven highly effective around the world, for example during the COVID-19 pandemic, where banners have become a central element for informing. citizens on the importance of precautionary measures”.
“Bitget to Launch Campaign in Vietnam to Warn of Cryptocurrency Scams and Risks” was originally created and published by International retail bankera trademark owned by GlobalData.
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