ONUS Crypto Scam Collapses as Vietnamese Authorities Arrest Key Suspects and Impound Multi-Billion Dollar Assets
On March 27, the National Anti-Organized Crime Agency (ONUS) in Vietnam was dismantled following a massive police operation that arrested key suspects involved in what authorities describe an exceptionally large multi-billion dollar cryptocurrency fraud. Police officials confirmed they seized billions of dollars worth of assets from investors who were targeted by this organized scam ring operating within grey zone crypto markets across the region.
Key Points
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1Vietnamese authorities have opened a major fraud case against ONUS, accusing suspects of using token promotions and controlled trading to steal investor funds.
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2Police announced on March 27 the arrest of at least seven individuals linked to dismantling an exceptionally large multi-billion dollar crypto scam ring in Vietnam.
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3The investigation centers around selling fake digital currencies through a platform named ONUS, targeting unsuspecting victims across Asia.
Developments
Vietnamese authorities have launched criminal proceedings against suspects linked to ONUS for allegedly using token promotions on platforms like VNDC, HNG, and ONUSEs while controlling supply and demand. The investigation covers multiple provinces in the country's largest retail digital asset market with billions of dollars reportedly involved through alleged money laundering via computer networks.
Vietnam's police have arrested seven individuals and summoned over 140 others for operating the ONUS crypto scam since at least 2018. The group allegedly created fake digital currencies to manipulate prices through a platform that became inaccessible in March, leaving millions of investors affected including one who lost more than $15,000.