Vietnamese National Charged Over $53M Crypto Scam

US prosecutors have charged a Vietnamese national over an alleged cryptocurrency fraud network. The case involves 'pig butchering' scams, where scammers cultivate relationships with victims before directing them to fake investment opportunities.

The defendant, Trung Nguyen Van, faces two money-laundering counts in the Western District of Missouri. He allegedly controlled wallets that received around $53.3 million linked to wire-fraud schemes targeting US victims.

One victim lost approximately $16 million after being directed to a fake crypto investment platform called Triangle. The victim was unable to withdraw their supposed investment, and investigators connected the recipient infrastructure with other suspicious wallets.