Vietnam Arrests Key Suspects in ONUS Crypto Fraud Case, Billions Lost

by

ONUS fraud case widens as Vietnam arrests key suspects

As a researcher following the crypto space, I’ve been tracking a significant fraud case unfolding in Vietnam. Authorities have recently detained several individuals connected to the ONUS crypto ecosystem, alleging they manipulated token values and engaged in controlled trading practices to misappropriate investor funds. It appears they used promotional tactics and artificial trading to deceive people and take their money.

Summary

  • Vietnam detained ONUS-linked suspects after police alleged token promotions and market control were used deceptively.
  • Authorities said the case involved VNDC, ONUS, and HNG tokens promoted through the platform directly.
  • Vemanti said it hired US legal counsel after reports named two board members in indictments.

This situation highlights increased scrutiny of cryptocurrency regulations in a major market for digital assets.

Vietnamese authorities have opened a criminal investigation into the ONUS ecosystem, alleging illegal activities involving property appropriation via computer networks and money laundering. The Ministry of Public Security began proceedings on March 23rd, with the investigation currently spanning Hanoi and multiple other regions across the country.

According to Vietnamese reports, authorities have identified Vuong Le Vinh Nhan, Tran Quang Chien, and Ngo Thi Thao as suspects in this case. Investigators believe the group manipulated the market for tokens they were promoting and trading on the ONUS platform by controlling how many were available, the level of demand, and the price.

Police say token promotions misled investors

Authorities claim the group falsely marketed certain digital tokens – including VNDC, ONUS, and HNG – as legitimate investments. They allegedly manipulated trading to create the appearance of active markets and control prices from a central point.

According to Vietnamnet, police are treating this case as one of the biggest cybercrime investigations involving digital currencies in Vietnam. While official figures haven’t been released, reports suggest the fraudulent scheme involved billions of dollars from investors.

Vemanti Group stated they only found out about the indictments of their Chairman, Nhan Vuong, and board member, Chien Tran, through the ministry’s announcement and news reports. The company confirmed they hadn’t received any prior notification from authorities before these reports became public.

Vemanti also stated they’ve engaged lawyers in the US to examine the situation. The investigation is connected to ONUS Pro, the platform involved in the case in Vietnam.

Vietnam’s crypto market faces more fraud scrutiny

This news comes as Vietnam continues to be a significant player in the cryptocurrency world. Chainalysis data from 2025 shows Vietnam ranked fourth globally for how widely its citizens are adopting and using digital assets.

Authorities are now tackling this issue beyond Vietnam. In India, the CBI recently arrested a person in Mumbai suspected of sending people to Myanmar, where they were reportedly forced to commit online fraud – including scams involving fake cryptocurrency investments and romantic relationships.

Read More

2026-03-27 14:04