Vietnamese Crypto Trader Loses Over $6000 and Steals ATM Machine from Bank

On the afternoon of March 25, Nguyen Quoc Nhut, a 36-year-old man residing in Cam Le district, Da Nang, Vietnam, was arrested and detained for theft, according to a local newspaper Vnexpress.net.

Nhut confessed that he had borrowed money from his family, friends, and banks to invest in Bitmeta 4, a cryptocurrency trading platform, and had lost about VND 150 million ($6,350). With no ability to repay his debts, he planned to steal money from an ATM.

Nguyen Quoc Nhat | Photo: Vnexpress

On the night of March 19, Nhut discovered an ATM across the street from the University of Da Nang, located at 41 Le Duan Street in Hai Chau District, Da Nang. Although the street is bustling with people, the ATM was located in a quiet spot hidden behind trees, with few people passing by.

Nhut did not act recklessly but rather took his time to investigate the area. He shut off the power supply outside the ATM and waited in the distance to observe. Late at night on March 23, after studying the structure of the ATM for several days, Nhut turned off the power supply again, put on gloves, and began to break open the machine using two metal bars.

The ATM machine was vandalized by Nhut

When he could not break open the inner safe, he went home and returned with a handheld cutting machine. He managed to open two metal boxes containing a total of VND 175.3 million ($7,450), which he then deposited into his Bitmeta 4 account and lost it all.

On March 23, at around 4:30 pm (local time), Nhut visited the crime scene to check on the situation and saw the police conducting investigations and collecting fingerprints. Fearing for his family’s safety, he decided to stage a suicide scene.

Early in the morning of March 24, Nhut left a suicide note at home, rode his motorbike to Do Bridge (in Hoa Chau Commune, Hoa Vang District), and hung his helmet on the railing, pretending to be ready to jump. According to his confession, he spotted two fishing boats on the river and thought that he could jump into the water, be saved by local fishermen, and escape to Ho Chi Minh City to start a new life.

On March 24, Nhut’s family contacted the police to report his disappearance, and the police found his motorbike near Do Bridge. Nhut was eventually caught and arrested on March 25.

The incident has raised concerns about the security of ATMs in public areas and highlighted the dangers of unregulated cryptocurrency trading platforms. This case serves as a warning to investors to be cautious when investing in cryptocurrency and to avoid borrowing money from friends and family to invest in high-risk investments.

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