Vietnamese police seize over 350 kg of gold and silver in the ONUS Crypto case

ME News reports that on July 5 (UTC+8), Vietnam’s Ministry of Public Security held a press conference to update the public on the investigation into the ONUS cryptocurrency case. A representative from the Ministry’s Agency for Cybersecurity and High-Tech Crime Prevention (A09) stated that during the investigation into the alleged embezzlement case involving the ONUS cryptocurrency exchange, authorities have seized over 350 kilograms of gold and silver, frozen transactions related to eight properties worth 200 billion VND, and suspended more than 300 bank accounts used by the defendants for transactions with investors. On March 23 of this year, prosecutors filed criminal charges against eight defendants for allegedly using computer and telecommunications networks to commit embezzlement and money laundering. Since 2018, the suspects have exploited the public’s limited understanding of cryptocurrencies by creating digital accounts through an app and presenting them as virtual currencies. They built trust and attracted investments through circular trading between affiliated companies, ultimately siphoning off funds—accumulating over 7 trillion VND in cryptocurrency sales between 2018 and 2021. The A09 representative noted that the case involves a large number of individuals and users, with approximately 5 million user accounts opened to date. Authorities have received over 2,000 reports from citizens, and asset recovery efforts are ongoing. Investigators are also examining whether social media influencers colluded with the defendants to promote the scheme. (Source: Foresight News)