Vietnam seizes assets in major crypto and Forex fraud cases

Vietnamese authorities have seized large quantities of assets linked to two high‑profile fraud investigations. In the ONUS cryptocurrency case, the Public Security Department’s Investigation and Security Division (A09) confiscated more than 350 kg of gold and silver, blocked eight real‑estate transactions worth about VND 200 billion, and suspended over 300 bank accounts used to defraud investors. The scheme allegedly attracted around five million users, sold tokens such as VNDC, ONUS and HNG, and generated sales exceeding VND 7 trillion between 2018 and 2021.

In a separate investigation of former forex broker Phó Đức Nam, known as “Mr Pips”, police seized VND 44.8 billion in cash, foreign currencies, dozens of luxury watches, high‑value jewelry and more than 600 gold items, including dozens of 24 karat pieces. The raid also uncovered 60 premium watches from brands such as Rolex, Patek Philippe and Audemars Piguet. Mr Pips is accused of conducting 920 fraud cases that stole over VND 1,568 billion from investors.

Both cases highlight extensive asset recovery efforts targeting elaborate investment scams in Vietnam.