Bitcoin Exchange Operator Sentenced to Six Years in Prison

Trung Nguyen, also known as 'DCS420', was sentenced to six years in federal prison and three years of supervised release in May 2025 for running an unlicensed Bitcoin exchange. The operation, National Vending LLC, accepted cash from customers and sent them Bitcoin, but Nguyen failed to register with the Treasury Department's Financial Crimes Enforcement Network (FinCEN) or file required reports.

Nguyen used a 'no questions asked' approach and never registered his business as a money transmitter. He also bought an online course on how to conceal a bitcoin operation, which advised him to pick a cover business that would naturally generate cash deposits from around the country.

The court entered a money judgment of $1,513,000.04 against Nguyen, and a recent forfeiture order identifies specific property being taken: $50,000 seized from a Swampscott business, over $34,000 in cash found in Nguyen's basement, and various cryptocurrency holdings including 6.7 Bitcoin, nearly 57,000 Cardano, and smaller amounts of Ethereum and Monero.