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Vietnam protesters say $660m stolen in initial coin offerings

Modern Tech touted high returns to around 32,000 investors

Bitcoin or other cryptocurrencies are exchanged for digital tokens in initial coin offerings. Large scams involving ICOs have been reported in Vietnam.   © Reuters

HO CHI MINH CITY -- Ho Chi Minh City authorities ordered an investigation on Wednesday into the apparent theft of $660 million through scams linked to cryptocurrency startups.

The probe was a response to protesters who gathered downtown of the Vietnamese city to demand the return of their money.

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