US Edition
Vietnam police bust multi-billion dollar crypto scam
- On Mar 26, Police arrested Eric Vuong, a fintech businessman, and six accomplices on charges of property appropriation and money laundering related to the ONUS cryptocurrency platform.
- Unlike China, which banned cryptocurrencies outright, Vietnam allows blockchain technology in a legal grey area, enabling platforms like ONUS to operate until it became inaccessible on Mar 20.
- Since 2018, Vuong and his group created fake cryptocurrencies through ONUS, manipulating supply and prices to defraud victims on an "exceptionally large scale," Police alleged.
- After summoning over 140 people for questioning, Police reported that investors were defrauded of "billions of dollars" through the platform.
- Victims expressed they were "devastated" after losing over US$15,000, reflecting risks in Vietnam where Chainalysis estimates 17 million people own digital assets among 100 million residents.
15 Articles
15 Articles
Vietnam police bust multi-billion dollar crypto scam
HANOI: Police in Vietnam said they busted a multi-billion-dollar scam that centred on selling fake digital currency to unsuspecting victims on an "exceptionally large scale".At least seven people were arrested in connection with the fraudulent platform that was visited by millions of Vietnamese people, police
Malay Mail
AlKhaleej TodayVietnam police bust multi-billion fake cryptocurrency scam, arrest seven
HANOI, March 27 — Police in Vietnam said they busted a multi-billion scam that centered on selling fake digital currency to unsuspecting victims on an "exceptionally large scale".At least seven people were arrested in connection with the fraudulent platform that was visited by millions of Vietnamese people, police said yesterday. Unlike neighbouring China which has banned cryptocurrencies outright, communist Vietnam has allowed blockchain techno…
The network targeted by the investigators, which had set up this false platform to deceive investors, operated on "an exceptionally large scale".
Bitcoin.com
Cryptocurrency News | Cryptocurrency Prices | Market CapVietnam Authorities Launch Probe Into Multi-Billion Dollar Crypto Fraud
Vietnamese authorities dismantled a massive cryptocurrency fraud scheme following coordinated raids across multiple provinces, resulting in more than 140 interrogations and the seizure of extensive electronic evidence. Rapid Response and Formal Charges Authorities in Vietnam have launched a sweeping investigation into one of the country’s largest cryptocurrency fraud cases to date, detaining several high-profile figures […]
The Ministry of Public Security of Vietnam reported that authorities dismantled a large network of fraud linked to the ONUS ecosystem following a long-term investigation. According to the official statement, investigators cited more than 140 related individuals on 20 and 21 March and subsequently opened a criminal case for alleged appropriation of assets through electronic networks and alleged money laundering. The ministry identified several su…
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