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 accused of a multiyear scheme to misappropriate assets. From March 20 to 21, coordinated task forces across multiple provinces summoned more than 140 individuals for questioning and seized computers, phones, and financial records.
According to local reports, investigators acted swiftly to prevent suspects from destroying documents or concealing assets. On March 23, the Security Investigation Agency of the Ministry of Public Security formally initiated a criminal case on charges of money laundering and using computer or telecommunications networks to appropriate property. The alleged crimes spanned Hanoi and several other cities.
Authorities identified the alleged masterminds as Vuong Le Vinh Nhan, general director of Digital Asset Management JSC, based in Can Tho; Tran Quang Chien, technical administrator of the ONUS cryptocurrency exchange, based in Hanoi; and Ngo Thi Thao, director of HANAGOLD Gold, Silver and Gemstone JSC, based in Ho Chi Minh City.
Investigators allege that Nhan, Chien, Thao, and their associates created and promoted cryptocurrencies such as VNDC, ONUS, and HNG, selling them through the ONUS exchange. To lure investors, they allegedly used false advertising and manipulated supply and demand to artificially adjust prices under Nhan’s direction.
On March 24, the Ministry of Public Security moved to prosecute and detain Nhan, Chien, Thao, and four others under Article 290 of the Penal Code. One additional suspect faces prosecution under Article 324. The Supreme People’s Procuratorate has approved the detentions.
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Authorities are urging victims to contact the Security Investigation Agency. Police also warned the public to remain vigilant against online investment schemes disguised as “technology ecosystems” or cryptocurrency projects promising high returns.
FAQ ❓
- What happened in March 2026? Police across Vietnam raided multiple sites, questioned 140 people, and seized electronic evidence in a major crypto fraud probe.
- Who are the main suspects? Authorities detained Vuong Le Vinh Nhan, Tran Quang Chien, Ngo Thi Thao, and others linked to VNDC, ONUS, and HNG tokens.
- What charges were filed? Suspects face prosecution for property appropriation via computer networks under Article 290, and one faces money laundering under Article 324.
- How can victims respond? Victims should contact the Security Investigation Agency in Hanoi for guidance and report suspicious online investment schemes to local police.
