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$53M Crypto Scheme Exposed: Vietnamese National Charged

Guavy AI Editorial Team
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A US citizen of Vietnamese descent has been charged with money laundering in connection with an alleged $16 million crypto pig butchering scheme. Trung Nguyen Van, 37, faces two federal counts and is accused of receiving over $53.2 million in cryptocurrency linked to similar scams between 2018 and 2024.

The primary victim transferred approximately $16 million in digital assets between June and August 2024, believing they were trading on a legitimate platform called Triangle. However, the funds were diverted to addresses under Van's operational control.

The case is part of a larger trend of complex modality generating cumulative multi-million-dollar losses worldwide, according to Assistant US Attorney R. Matthew Price.

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