Vietnamese authorities have detained multiple suspects linked to the ONUS crypto platform, alleging a fraudulent scheme involving false promotions and market manipulation. The investigation claims billions of dollars were raised from investors through tokens like VNDC, ONUS, and HNG. The case highlights increasing regulatory scrutiny in Vietnam, a top global market for crypto adoption.
Vietnamese authorities have detained multiple suspects linked to the ONUS cryptocurrency platform. The Ministry of Public Security alleges the group used misleading promotions and manipulated token trading to misappropriate investor funds.
Authorities named suspects including Vuong Le Vinh Nhan, linked to ONUS’s parent company, and Tran Quang Chien, identified as the platform’s technical administrator. They are accused of creating and promoting tokens like VNDC, ONUS, and HNG through the ONUS ecosystem. Police claim the scheme raised billions of dollars from investors, though a specific breakdown was not provided.
The Ministry stated the group “maintained centralized control” over token markets, manipulating supply and demand. The arrests follow a multi-agency investigation where over 140 individuals were summoned and evidence was seized.
In response, Vemanti Group, a US-based fintech linked to ONUS, stated it learned of the indictments through the ministry’s announcement. “Vemanti said it learned of the indictments of Nhan Vuong and Chien Tran through the ministry announcement and Vietnamese media,” and has engaged US legal counsel. The ONUS platform itself has not issued an official statement addressing the allegations.
The case adds to the scrutiny of crypto activity in Vietnam, which ranks highly in global adoption indexes. In a separate but related development, India’s Central Bureau of Investigation arrested a suspect accused of trafficking victims to scam compounds in Myanmar. Those victims were allegedly forced to carry out online fraud schemes, including cryptocurrency investment scams.
